Bitwise Says Clarity Act Failure Helped Crypto Avoid Key Restrictions

Bitwise CIO Matt Hougan says the crypto market's rally following the failure of the Clarity Act can partly be explained by restrictions the industry avoided when the legislation stalled.
Hougan argues that the bill's failure left stablecoin rewards intact and spared crypto exchanges from provisions that could have constrained parts of their businesses.
He says the outcome traded some long-term legislative certainty for a regulatory environment that has produced more favorable near-term developments for parts of the crypto industry.