Bitwise Chief Investment Officer Matt Hougan says the SEC is ready to step in with rule-making if the CLARITY Act misses Friday's deadline, arguing crypto will march ahead either way.
What Happens If Clarity Fails This Week?
Hougan wrote in a Bitwise note on Tuesday that the bill will not truly die if it misses the August 7 recess deadline.
Instead it enters what he calls a "walking dead" state, with ongoing chatter about reviving it in September or bundling it into a year-end omnibus package in December.
He said prolonged uncertainty is worse for markets than a clean failure, since professional investors are sitting on the sidelines waiting for resolution.
