Matt Hougan, chief investment officer at Bitwise, said the CLARITY Act could fail to pass this week before the US Senate recess, but that this would not signal the end of the legislation or crypto’s progress. Under Senate rules, lawmakers must file for cloture by Wednesday, August 6 for a chance to vote before the break. If the bill fails, Hougan expects it to enter a zombie state, potentially returning in September or during a December lame-duck session. The current uncertainty is causing some professional investors to hold back from committing capital to crypto, but Hougan believes failure could paradoxically help the market by removing that uncertainty, leaving crypto better positioned for a fall rally. The SEC under Chair Paul Atkins represents an alternative regulatory path potentially more supportive of crypto and innovation in the short term.
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