Arthur Hayes rejects the CLARITY Act at Consensus
Arthur Hayes told Consensus Miami 2026 that the CLARITY Act misses the point of crypto, arguing that bitcoins value comes precisely from operating outside any regulatory system.BitMEX co-founder Arthur Hayes argued at Consensus Miami 2026 that crypto does not need legislation like the CLARITY Act to function or grow.Hayes said the bill primarily benefits centralized companies with lobbying resources, not the broader decentralised ecosystem.He argued that fiat money supply, not regulatory clarity, is the only variable that determines bitcoins price. BitMEX co-founder and Maelstrom CIO Arthur Hayes took the stage at Consensus Miami 2026 on May 5 to argue that crypto regulation is not only unnecessary but directly contradicts the fundamental value proposition of bitcoin. His remarks came as Congress approaches a potential make-or-break vote on the CLARITY Act before the May 21 Memorial Day recess. “This is the value that bitcoin provides outside of the regulatory apparatus,” Hayes told the audience. “Its precisely the reason that it does not adhere to the regulatory regime that some of you wish to put it under with bills like the Clarity Act and other things.” Hayes laid out a simple thesis: the only variable that moves bitcoin‘s price is the total number of fiat currency