What Happens to Crypto If the CLARITY Act Fails This Week? Hougan Explains
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Bitwise CIO Matt Hougan warned the CLARITY Act could fail to pass before the Senate recess, noting lawmakers must file for cloture by August 5 to secure a vote prior to the August 7 recess and return on September 14. He said a missed deadline would not end the legislation or long-term crypto progress, but the potential delay raises near-term regulatory uncertainty for crypto, DeFi and token markets.
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Bitwise Chief Investment Officer Matt Hougan said the CLARITY Act could fail to pass this week, but that would not mean the end of the legislation or the crypto industry’s progress.
The US Senate is scheduled to leave for its August recess on Friday, August 7, and return on September 14. Under Senate rules, lawmakers must file for cloture on the CLARITY Act by Wednesday, August 5, for the bill to have a chance of receiving a vote before the recess.
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