Bitwise CIO: 'Passage of the CLARITY Act will be a watershed for the crypto market’s direction'
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Summary
- Matt Hougan, Chief Investment Officer at Bitwise, said the trajectory of the CLARITY Act will determine the direction of the digital asset market.
- He said that if the bill fails to pass, regulatory uncertainty and a market downturn could persist.
- Conversely, he said that if the bill passes, the digital asset market is likely to move toward all-time highs and expanded institutional investor participation.
The outcome of a market structure bill for digital assets (cryptocurrencies) currently under discussion in the U.S. Congress has been identified as a key variable that will shape market trends going forward.
On the 13th (local time), Matt Hougan, Chief Investment Officer (CIO) at Bitwise, said, “The trajectory of the CLARITY Act will determine whether the current bearish phase in the digital asset market continues or shifts into a new upcycle.”
Hougan added, “If the bill is debated but fails to pass Congress, regulatory uncertainty will persist and the market downturn could continue,” and said, “Conversely, if it passes and is enacted into law, there is a strong likelihood the digital asset market heads toward a new all-time-high phase.”
The market views the CLARITY Act as pivotal legislation to clarify the regulatory framework and market structure for the digital asset industry. Expectations are rising that passage could both broaden institutional investor participation and ease policy risk.
If the legislation stalls, however, concerns are also being raised that prolonged uncertainty could delay a recovery in investor sentiment. With regulatory discussions across the digital asset space—including stablecoins and decentralized finance (DeFi)—gaining momentum, the market’s attention is focused on Congress’s final decision.
