TechFlow News: On January 28, according to a CoinDesk report, Bitwise’s latest analysis indicates that the probability of passage for the U.S. Clarity Act—a cryptocurrency bill—has sharply declined from 80% at the beginning of January to approximately 50%, primarily due to opposition from within the industry, including criticism from Coinbase CEO Brian Armstrong, who labeled the current draft “unworkable.”
Bitwise Chief Investment Officer Matt Hougan warned that if the bill fails to pass, the crypto market could shift from a speculative bull market into a slower “demonstration” phase, during which the industry would have roughly three years to establish stablecoins and tokenized assets as indispensable components of the U.S. economy.
The Senate Committee on Agriculture has postponed its hearing on cryptocurrency market structure from Monday to Thursday. Bitwise expects that passage of the bill would trigger a rapid market rally, whereas failure could lead investors to adopt a “wait-and-see” stance, resulting in slower market growth heavily dependent on real-world use-case validation.
