Bitwise CIO Says CLARITY Act Failure Won't Stop the Crypto Bull Market Run
Key highlights:Matt Hougan said the CLARITY Acts failure does not affect the crypto marketThe Senate rejected a cloture vote on the crypto bill on Sept. 15Bernstein analysts expect U.S. regulators to move quickly with new crypto rules Bitwise Chief Investment Officer Matt Hougan took back his previous warning that failure of the CLARITY Act would drag the crypto market into another bear phase, saying instead that the setback is unlikely to derail the current rally. CLARITY Act delay just a “speed bump” Hougan said in a memo published Sept. 16 that he no longer sees another bear market stretch for crypto even with the bill stalling in the Senate. The CIO had previously compared the CLARITY Act to cryptos version of Punxsutawney Phil, a groundhog used to predict how long winter will last, warning that a failed vote could start a much steeper bear market. Discover more Merchant Services tails we still win’ scenario on regulation. Until a new administration takes over in Washington, the SEC and CFTC will have free rein to set the agenda for crypto.”









