"Cryptocurrencies Will Advance Even if the Clarity Act Fails to Pass," Says Bitwise CIO

Systematization Progresses Beyond the Fate of the Bill

Bitwise's CIO, Matt Hougan, stated in a report dated August 4 that even if the comprehensive regulation law for digital assets, known as the 'Clarity Act,' fails to pass this week, the impact on the cryptocurrency market would be limited.

The U.S. Senate faces a deadline for a cloture motion (a motion to close debate) for the act on August 5. The Senate will recess from August 7 and will reconvene on September 14, with the probability of the act passing currently at 27% according to the prediction market Polymarket...