US Senate Pushes Digital Asset Market Clarity Act Backed by BlackRock and Goldman Sachs

Wall Street firms including BlackRock, Fidelity, Franklin Templeton, Goldman Sachs and SoFi have publicly endorsed the Digital Asset Market Clarity Act, a legislative proposal that would create a clearer regulatory framework for digital assets in the United States. The bill seeks to delineate the responsibilities of the Securities and Exchange Commission and the Commodity Futures Trading Commission, assigning the CFTC primary authority over digital commodities while limiting the SEC’s role to securities‑related aspects and excluding stablecoins.

Goldman Sachs CEO David Solomon told Politico that a unified regulatory regime would strengthen market stability and support continued innovation in the crypto sector, positioning his firm’s stance against JPMorgan’s criticism that the act could hinder credit‑granting. The Senate is expected to vote on the measure before the summer recess, leaving limited time for a decisive outcome. The legislation, H.R. 3633, passed the House on 10 June 2025 and now awaits Senate approval.