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Bitwise’s Matt Hougan says crypto will have to “wrestle with prolonged regulatory grind and skepticism” if the US fails to pass a market structure bill.The crypto industry will need to become ingrained in everyday life in the US should Congress fail to pass a crypto market structure bill, or risk being set back by a change in administration, says Bitwise investment chief Matt Hougan.
If the bill fails, Hougan said a future administration “could reverse today’s pro-crypto push,” and the industry will have three years, the end of President Donald Trump’s term , to “make crypto indispensable to the everyday lives of regular Americans and the traditional financial industry.” “If, at the end of three years, we’re all using stablecoins and trading tokenized stocks, we’ll get positive crypto legislation regardless of who is in charge. But if crypto is instead still operating on the edges, a change in Washington could be a huge setback,” he added.as the Senate Banking and Agriculture Committees have both needed to garner bipartisan support for the bill, with lawmakers seeking toHougan said that the fate of the crypto bill, whether it passes or fails to advance, will have “big implications for near-term price returns.” “The result is two very different pathways for the market,” he said. “One is an early bull market built on strong expectations. The other is a ‘wait and see’ market where any optimism has to wrestle with prolonged regulatory grind and skepticism.” Matt Hougan says the crypto bill’s fate in the Senate, which the House passed under the CLARITY Act, could set crypto on different paths. Source:If the bill passes, specifically a version “that the crypto industry is comfortable with,” then the market “will rally sharply,” Hougan said. “With legislation in place, investors will assume that the growth of things like stablecoins and tokenization is guaranteed,” he added. “They’ll begin to build that future into prices today.”“Investors will demand that crypto prove real-world adoption before they begin to reward prices, because without that real-world adoption, crypto will be built on a regulatory foundation of sand,” he added. Hougan was optimistic that Congress would pass crypto market structure legislation, saying the Trump administration has so far “delivered on its election promises to the crypto industry.”Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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