Key Highlights
- Coinbase Vice Chairman Ryan VanGrack said BlackRock now supports the CLARITY Act.
- The comments followed a Politico report citing BlackRock’s support for the crypto market structure bill.
- BlackRock said the legislation would strengthen investor protections while supporting innovation.
Ryan VanGrack, a leader at Coinbase, used the platform X (formerly Twitter) to point out that BlackRock supports the CLARITY Act and urged Congress to move forward with it while senators are still discussing the bill.
VanGrack shared a post from Paul Cafiero, a communications executive at a16z crypto, stating that BlackRock has officially confirmed its involvement.
BlackRock announced its support for the legislation, joining companies like Charles Schwab, Fidelity, and Goldman Sachs. This came after reports detailing BlackRock’s stance, and the company noted it’s now up to Congress to act.
Support for the CLARITY Act keeps growing
After VanGrack’s statement, Patrick Witt, who leads the President’s Council of Advisors on Digital Assets, questioned the negative reaction to BlackRock’s support of the Clarity Act, asking if people were truly upset by it.
Witt was reacting to a message pointing out that BlackRock had joined Charles Schwab, Fidelity, Goldman Sachs, and Grayscale in supporting the bill.
As an analyst, I’ve been tracking the increasing support for clear rules around digital assets, and his statement is another strong signal. We’re seeing more and more endorsements coming from both the crypto world and traditional finance, which really highlights the growing consensus that we need a clearer regulatory framework.
Why BlackRock is backing the CLARITY Act
BlackRock has announced its support for the CLARITY Act, joining other large financial companies in favor of a new law that would create clear rules for digital assets in the U.S.
As a crypto investor, I was really encouraged to see BlackRock’s Samara Cohen call the CLARITY Act a positive move for US markets. She basically said it’s an important step towards creating clear rules for digital assets – and importantly, that those rules prioritize investors like me.
Cohen explained that the new law will keep the United States a leader in global finance and encourage smart, well-managed development of new technologies.
This would allow the U.S. to create modern financial markets that encourage new ideas, all while maintaining the openness, stability, and safeguards investors rely on – helping America remain a world leader in finance.
BlackRock has publicly voiced its strongest support yet for the proposed law, as politicians keep discussing how to regulate cryptocurrencies.
Senate still faces vote challenge
Even though the CLARITY Act is gaining support, it will be hard to pass in the Senate. Experts believe it needs at least nine more votes in the Senate to reach the 60 needed for it to move forward.
Republican leaders plan to meet again with White House officials to keep talking about disagreements Democrats have raised regarding ethical guidelines and potential conflicts of interest.
These talks are gaining urgency as legislators try to finish the bill before it goes up for a vote in the Senate.
Support extends beyond crypto firms
BlackRock publicly backing the CLARITY Act follows growing support for it from both the cryptocurrency world and traditional financial institutions.
Coinbase leaders recently stated that establishing clearer rules for how the market operates would help all investors, whether they support or oppose cryptocurrencies. Simultaneously, Andrew McCormick from Chainlink encouraged Senators Cory Booker and Andy Kim to support the proposed legislation, as part of an ongoing push to gain support from both Democrats and Republicans.
With these developments in mind, VanGrack’s recent post on X points to increasing backing for the bill from cryptocurrency companies and traditional financial institutions. This support comes as legislators keep working on the details before it goes to a vote in the Senate.
Proponents of the CLARITY Act believe it would create more defined rules for the digital asset industry and clearly outline which agency – the SEC or the CFTC – is responsible for overseeing different parts of the market. A major question now is whether the increasing support for the bill will be enough to get it passed into law.
2026-07-27 23:18