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CLARITY Act's Senate Snub Sends Crypto Market Rallying

Guavy AI Editorial Team
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Bitwise Chief Investment Officer Matt Hougan believes that the crypto market may have benefited from the failure of the US CLARITY Act to secure the necessary Senate votes. The bill, which aimed to regulate cryptocurrencies, required 60 Senate votes to advance but fell short.

The failure of the CLARITY Act was followed by a strong rally across several digital assets, suggesting reduced near-term regulatory risk and potential upside for token performance, adoption, and DeFi markets.

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