Crypto needs to become ‘indispensable’ if legislation fails: Bitwise

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.

Hougan said in a note on Monday that legislation making its way through the Senate to clarify how regulators police crypto “would cement the current pro-crypto regulatory environment into law.”

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 (in 2029), to “make crypto indispensable to the everyday lives of regular Americans and the traditional financial industry.”

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