CLARITY or not, crypto isn’t going back in the bottle: Bitwise

Matt Hougan argues that regulatory guidance from the SEC and CFTC would keep the industry moving even if Congress fails to pass landmark market structure legislation this year.

A failure to pass the CLARITY Act this week will put the bill in a “walking dead” state, but won’t stop the crypto industry’s march forward, according to Bitwise chief investment officer Matt Hougan. 

In a blog post on Wednesday, Hougan said while many, including himself, have called it the “make or break” week for the CLARITY Act, the reality is that the crypto industry has made too much progress to “go back in the bottle.” 

“The reality is that Washington is always late to major technology shifts, and it has rarely mattered as much as people feared,” said Hougan. 

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