Bitwise CIO Matt Hougan says crypto can keep advancing if Congress misses this week’s deadline to move the Clarity Act before the Senate recess.

Key Points:

• Hougan expects crypto markets and onchain finance to expand even without the Clarity Act.
• SEC rules could provide faster relief, but a future administration could reverse them.
• Delays may keep professional investors cautious and leave the bill in prolonged uncertainty.

Clarity Deadline

The Senate faced a narrow window to advance the market structure bill, with cloture due Aug. 5 and lawmakers expected to leave Washington after Aug. 7. The chamber’s formal state work period runs from Aug. 10 through Sept. 11. No floor vote had been scheduled.

In an Aug. 4 investment memo,…