Cryptocurrency World: Clarity Act is Experiencing a Loss of Support

Bitwise Evaluates the Future of the Clarity Act

Bitwise announced in a blog post published on Monday that support for the Clarity Act on Polymarket has dropped from 80% to 50%. This decline is viewed as a result of increasing objections within the cryptocurrency sector.

In the event of the bill's failure, Bitwise believes that cryptocurrencies need to achieve mass adoption through stablecoins and tokenization. This approach is seen as a step towards prompting regulatory authorities to take action.

The firm predicts a sharp increase following the bill's approval. However, they express that if the bill fails, this increase will occur more gradually, linked to proven utility.