Crypto faces fork in the road as Clarity Act support wavers, Bitwise says
The digital asset market is facing a critical fork in the road, according to crypto asset management firm Bitwise.
In a Monday blog post, the investment manager warned that the stalling of the Clarity Act in Congress could shift the market from a speculative bull run into a grueling “show me” phase.
The Senate Agriculture Committee postponed its crypto market structure markup hearing from today to Thursday, citing the winter storm that hit much of the U.S. over the weekend.
According to Bitwise CIO Matt Hougan the Clarity Act is essential for cementing a current pro-crypto regulatory environment into permanent law. Without it, the the industry remains vulnerable to the whims of future administrations.
Hougan pointed out that market…
