Crypto market risks losing out due to recent setback in stablecoin bill: Bitwise
- Bitwise’s Matt Hougan stated that lawmakers could derail the crypto market’s progress if they refuse to support the GENIUS bill.
- This follows a shift against the GENIUS bill by Democrat senators who suggested it didn’t contain enough AML protection.
- Democrats also shared concerns over President Trump’s ties with crypto projects.
Bitwise Chief Investment Officer (CIO) Matt Hougan shared in a note to investors on Tuesday that policymakers need to start addressing crypto regulations for the market to move forward. This follows nine Democrats rescinding support for the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) bill.
