According to The Block, Bitwise Chief Investment Officer Matt Hougan said that even if the U.S. Clarity Act fails to pass this week, the crypto industry will still find a path forward. The U.S. Congress will enter its summer recess from August 10 to September 11, leaving only three days for the Clarity Act to advance in the Senate. Hougan noted that if the bill fails to pass, SEC Chair Paul Atkins could directly implement more crypto-friendly regulatory rules, potentially even accelerating industry growth. However, he also warned that delaying legislation would increase market uncertainty and further hinder institutional investors from entering the market.
Bitwise CIO: The Crypto Industry Will Move Forward Even If the Clarity Bill Fails This Week
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Summary
Bitwise CIO Matt Hougan said the crypto industry will move forward even if the U.S. Clarity Bill fails this week, citing TechFlow. With Congress entering summer recess, only three days remain for the bill to advance in the Senate. Hougan suggested SEC Chair Gary Gensler could still advance crypto exchange regulations or CFT-related rules to support the sector. But he warned that delayed action could increase uncertainty and deter institutional entry.
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