Bitwise: Clarity Act Failure Not a Major Hurdle for Crypto Market

U.S. Digital asset market structure legislation, the Clarity Act, failed to pass the Senate vote but Bitwise has stated it does not view this as a critical hurdle for the digital asset market. Matt Hogan, Bitwise's Chief Investment Officer, cited that Bitcoin prices and expectations of legislative passage moved in opposite directions, arguing that future market dynamics should be monitored through rulemaking by the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).