Matt Hougan Says CLARITY Act Delay Won’t Stop Crypto’s Forward March
TL;DR
- The CLARITY Act is approaching the August 5 Senate deadline; Polymarket gives it only a 23% chance of passing in 2026.
- Matt Hougan, CIO of Bitwise, argues that a legislative failure would leave the sector backed by the joint SEC-CFTC interpretation issued in March.
- Galaxy Research cut the odds of the bill’s passage to 30% in July, while in February prediction markets had them as high as 82%.
The CLARITY Act is facing its most critical week: the United States Senate has a deadline set for August 5 to advance the crypto market structure bill before its summer recess.
If the text fails to secure the necessary votes before that cutoff, the CLARITY Act could be suspended indefinitely while legislators redirect their attention toward the November midterm elections. However, Matt Hougan, chief investment officer of Bitwise Asset Management, argues that the real impact of that failure would be far smaller than many fear.
Through an extensive blog post, Hougan argued that the crypto industry has gained too much momentum to turn back, regardless of what happens in Congress. “Washington always arrives late to major technological shifts, and it has rarely mattered as much as people feared,” he wrote.
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