Franklin Templeton backs CLARITY Act, boosting Wall Street support

https://www.thedailyupside.com/advisor/industry-news/why-old-school-franklin-templeton-just-bought-a-crypto-startup/ Franklin Templeton, a prominent U.S. asset manager, has endorsed the CLARITY Act, a key piece of crypto legislation currently under consideration in the U.S. Senate. The CLARITY Act seeks to establish a federal framework for digital assets, dividing oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Franklin Templeton’s support adds weight to the coalition of major Wall Street firms backing the bill, reflecting broader industry interest in a clear regulatory environment for digital assets. This development follows the Senate Banking Committee’s advancement of the bill earlier this year with bipartisan support. Key Takeaways Franklin Templeton’s endorsement appears to strengthen the CLARITY Act’s prospects, suggesting increased industry support for the legislation. Market pricing suggests a modest increase in the likelihood of the CLARITY Act being signed into law by the end of 2026, though significant legislative hurdles remain. The current market reflects a 34.5% probability of the CLARITY Act’s passag...