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

Institutionalization Progresses Beyond the Fate of the Bill

Bitwise's CIO, Matt Hougan, stated in a report dated August 4th that even if the comprehensive regulation bill 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) on the Clarity Act on August 5th. The Senate will recess from August 7th and will not reconvene until September 14th. The probability of the bill passing, according to the prediction market Polymarket, is currently at 27%...