Bitwise CIO Says Crypto Momentum Does Not Depend on CLARITY Act

Bitwise chief investment officer Matt Hougan argues that the crypto industry is not dependent on Congress passing landmark market structure legislation this year. In his view, regulatory guidance from the Securities and Exchange Commission and the Commodity Futures Trading Commission could be enough to keep the sector moving.

The point matters because market structure rules remain a central issue for crypto companies and investors seeking clearer boundaries in the United States. If formal legislation stalls, agency-level guidance could still shape how firms operate and how markets interpret the regulatory path ahead.

Hougan’s argument focuses on continuity rather than a single legislative outcome. The industry, he suggests, has already reached a point where regulatory clarity from existing agencies may support further development even without a major bill becoming law in the near term.

That does not mean congressional action is irrelevant. Landmark legislation could still create a broader and more durable framework for digital asset markets. But Hougan’s view is that the absence of such a law this year would not put crypto back into a state of waiting.

For readers following US crypto policy, the takeaway is that the next phase may be shaped as much by regulators as by lawmakers. The SEC and CFTC remain key institutions to watch as the industry looks for clearer rules without relying solely on Congress.