According to The Block, Matt Hougan, Chief Investment Officer at Bitwise, stated that the cryptocurrency industry will continue to grow even if the U.S. Clarity Act fails to pass this week. The U.S. Congress will be in recess from August 10 to September 11, leaving only three days for the Clarity Act to advance in the Senate. Matt Hougan noted that if the bill does not pass, SEC Chair Paul Atkins may introduce more crypto-friendly regulatory rules. He also warned that delaying legislation would increase market uncertainty and hinder institutional investors from entering the market.
Matt Hougan: The crypto industry will continue to grow even if the Clarity Act fails this week.
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Summary
Bitwise CIO Matt Hougan said crypto industry news will continue to grow even if the U.S. Clarity Act fails this week. The bill has only three days to advance before Congress recesses. Hougan noted that SEC Chair Gary Gensler could still advance crypto-friendly rules if the bill stalls. He warned that delayed legislation would increase uncertainty and slow institutional adoption. Industry trends show continued momentum despite regulatory delays.
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