CLARITY's Chances Are 50-50, Bitwise Exec Says: 'The Industry Will Be too Big to Kill'

With days left before the August 7 deadline, Bitwise Chief Investment Officer Matt Hougan says passing the CLARITY Act has a coin flip's chance—though the market could even stomach a failed attempt.

Why Hougan Says The Genie Is Already Out?

Hougan told Cointelegraph that BlackRock's (NYSE:BLK) largest ETF is now a crypto ETF, Goldman Sachs (NYSE:GS) is hiring in tokenization, and JPMorgan (NYSE:JPM) is building on blockchain.

Two more years of the current regulatory environment, he argued, gives the industry enough runway to become too large for any future administration to meaningfully roll back.

"The genie's out of the bottle," Hougan said.