Wall Street Deepens Support For CLARITY Act

TLDR

Wall Street firms and major asset managers are increasingly backing the CLARITY Act, a sweeping US crypto market structure bill, adding pressure on the Senate but passage is still not guaranteed.

1. BlackRock, Goldman Sachs, Fidelity, Charles Schwab, Franklin Templeton and others have publicly endorsed the CLARITY Act, signaling deep traditional finance support.
2. The bill would clarify SEC versus CFTC jurisdiction, set rules for stablecoins and DeFi, and add strong AML and ethics provisions that reshape US crypto market structure.
3. Despite growing Wall Street support, the Act faces political hurdles in the Senate, with prediction markets still pricing only moderate odds of it becoming law in 2026.

Deep Dive

1. Who Is Backing The CLARITY Act Now

A coalition of financial heavyweights representing over 30 trillion dollars in assets, including BlackRock, Goldman Sachs, Fidelity, Charles Schwab and Grayscale, has endorsed the Digital Asset Market Clarity Act (H.R. 3633), according to a recent community report on these financial heavyweights.

Goldman Sachs CEO David Solomon has personally backed the bill, describing it as a way to create a level playing field and improve market stability for digital assets. Franklin Templeton has also publicly endorsed the Act via its official account, arguing that [CLARITY] will clarify how crypto is regulated, as detailed in its endorsement.

Beyond Wall Street banks and managers, Charles Schwab has urged the Senate to pass the bill, and Coinbases Stand With Crypto campaign reports about 950,000 supporter contacts to lawmakers in favor of the Act, intensifying pressure through this grassroots effort.

2. What The CLARITY Act Would Change

The CLARITY Act would create a federal market structure for digital assets, clearly splitting oversight between the SEC and CFTC. Mature, decentralized digital commodities such as Bitcoin would sit under the CFTC, while fundraising and investment contract type tokens would remain under SEC rules with tailored, lighter capital raising paths.

The bill tackles several hot spots. It sets a framework for payment stablecoins, including capped yields and disclosures, and extends Bank Secrecy Act and anti money laundering obligations to more crypto intermediaries and some DeFi platforms. A new draft also adds ethics rules that bar senior officials and their spouses from issuing or sponsoring digital assets for profit while in office.

Less discussed provisions include closing the DINO loophole for platforms that claim to be decentralized while retaining control, and protecting self custodied crypto from being treated as abandoned property when wallets go inactive, as highlighted in a recent analysis.

3. Legislative Status And Risks

The CLARITY Act passed the House in July 2025 and cleared the Senate Banking Committee 15 to 9 in May 2026. A merged 616 page draft with ethics language was released on 22 July 2026, setting up a possible full Senate vote before the early August recess.

However, the bill needs 60 votes in the Senate, and several Democratic senators remain concerned about ethics, consumer protection, DeFi oversight and state enforcement powers. New Yorks Attorney General has warned the bill could weaken state investor protection, while banking groups remain wary of yield bearing stablecoins competing with traditional deposits.

Prediction markets currently price only moderate odds of the Act becoming law in 2026, with recent estimates clustered in the mid 30 to mid 40 percent range as negotiations drag on.

Conclusion

Wall Streets deepening support for the CLARITY Act shows that major banks and asset managers now see clear crypto rules as a strategic necessity, not just a niche industry request. If the Senate overcomes ethics and stablecoin disputes, the Act could finally give US crypto markets a stable, predictable regulatory backbone, though its tougher compliance and oversight will also reshape how projects and platforms operate.