Franklin Templeton joins support for Clarity Act
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- Franklin Templeton joined major financial firms in backing the US Clarity Act.
- The company said the bill would provide clearer rules for digital assets.
- Franklin Templeton said clearer regulation could support wider blockchain adoption.
Franklin Templeton has joined BlackRock, Fidelity Investments and Goldman Sachs in supporting the US Clarity Act.
The company said the bill would clarify how digital assets are regulated in the United States and define the roles of federal regulators.
“Clear and consistent rules are essential to supporting responsible innovation in digital assets,” said Franklin Templeton Global Head of Digital Assets Roger Bayston.
Franklin Templeton said the Clarity Act would define the responsibilities of the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) for digital assets.
The company said clearer rules could encourage more institutional use of blockchain products.
Franklin Templeton has expanded its digital asset business through tokenised funds and cryptocurrency exchange-traded products.
The Clarity Act has received support from several financial firms as US lawmakers continue debating digital asset regulation.