Bitwise CIO says stalled Clarity Act gave crypto faster favorable rules
Image: Crypto BriefingThe US Senate failed to advance the Clarity Act on September 15, falling short of the 60 votes required to move the bill forward. Bitwise CIO Matt Hougan argues the bill's failure benefited four crypto segments: stablecoins, exchanges, tokenization platforms and revenue-generating tokens with buyback mechanisms. He notes regulators have taken actions more favorable to those segments than the bill's proposed rules would have allowed.
Key points
- The US Senate failed to advance the Clarity Act on September 15, falling short of the 60 votes needed to move forward.
- Bitwise CIO Matt Hougan identifies stablecoins, exchanges, tokenization platforms and buyback tokens as Clarity Act failure beneficiaries.
- SEC staff clarified on September 25 that functional network buyback announcements do not alone create a security under the Howey test.
- The SEC granted a five-year exemption for tokenized US stocks two days after the Clarity Act vote failed.
Why it matters
The stalled bill and subsequent agency actions directly shape current regulatory rules for stablecoins, exchanges, tokenized assets and revenue-linked tokens, affecting US crypto market operations.
What's unclear
Exact Bitcoin and Ethereum post-vote percentage gains differ between the two reports.
Whether current favorable agency rules will remain after the 2026 US midterms is unconfirmed.
Sources · 3 publishers
The Block
Tier 1
Clarity Act’s failure gave crypto ‘faster’ regulatory wins, Bitwise CIO says
BeInCrypto
Tier 2
Bitwise Maps the 4 Corners of Crypto That Won As CLARITY Act Stalled
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by The Block
- CryptoVideos brief published
How this brief was made. Our system found this event in 3 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
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