Bitwise CIO: If Clarity Act Fails, Crypto Faces a 3-Year Show-Me Period

Approved by the US House in July 2025 and still under Senate review as of January 2026, the Clarity Act is central to crypto's next phase. Bitwise CIO Matt Hougan warned that if it fails, the industry faces a roughly three-year show-me period focused on real-world adoption. He expects passage could spark a sharp, expectation-led rally.