Franklin Templeton Backs CLARITY Act as Wall Street Coalition Grows

Franklin Templeton, an asset manager with $1.79 trillion under management, publicly endorsed the CLARITY Act, the federal crypto market-structure bill moving through the U.S. Senate.

"Franklin Templeton supports passage of the CLARITY Act," the firm said on July 27 from its verified account. "It's time to provide the industry the clarity it needs."

The firm said the bill would make clear how crypto is regulated, letting investors know what protections apply and letting firms know which regulators they answer to.

Franklin Templeton is a subsidiary of Franklin Resources Inc. (NYSE: BEN), which reported $1.79 trillion in assets under management as of June 30. The endorsement places it alongside BlackRock, Fidelity Investments, and Goldman Sachs, each of which has separately backed the legislation.

The support comes as senators review updated bill text. Senate Republicans on July 22 unveiled revised CLARITY Act language reflecting merged work from the Senate Banking Committee and Senate Agriculture Committee. The proposal assigns oversight responsibilities across the SEC and CFTC, defining regulatory treatment for securities and digital commodities while establishing registration standards, customer protections, and disclosure obligations.

The Wall Street firms issued their endorsements separately, not as a joint statement. Each addition extends an institutional coalition pressing the Senate to advance the bill, though no floor vote has been scheduled and the endorsements do not guarantee passage.