Key facts
- Fidelity has announced its support for the Crypto Clarity Act.
- Senator Elizabeth Warren has voiced concerns that the act could increase Bitcoin adoption and benefit illicit actors.
- Crypto industry groups are lobbying for the Clarity Act's passage in the Senate.
- The act aims to provide regulatory clarity for digital assets.
Fidelity, a major investment firm managing $7 trillion in assets, has publicly backed the proposed Crypto Clarity Act. This endorsement places the firm in opposition to Senator Elizabeth Warren, who has expressed concerns that the legislation could inadvertently boost Bitcoin adoption and benefit illicit actors, including President Donald Trump.