- The Senate has postponed the CLARITY Act vote to September after the summer recess.
- In response, Michael Saylor stated that Bitcoin doesn’t need the crypto bill.
- Bitwise CIO Matt Hougan previously stated that crypto can progress without the bill.
The much-awaited CLARITY Act is once again stuck in the US Senate as the lawmakers have postponed the crypto bill’s vote to September. While many industry leaders expressed disappointment, Strategy founder Michael Saylor responded with a bold claim. He argued that Bitcoin doesn’t need “clarity,” meaning that the pioneer crypto can continue to grow without the crypto bill.
While many expected the market structure to progress this week before the Senators’ August recess, Senate Majority Leader John Thune announced today that the vote would instead take place when Congress returns after the break. Following the announcement, many industry leaders, including Saylor, have shared their comments, with many still remaining optimistic.
Michael Saylor Reacts to CLARITY Act Delay?
Via an X post earlier today, Strategy founder Michael Saylor sparked fresh debate on the latest delay in the CLARITY Act. He noted that Bitcoin will continue to grow even without the crypto bill. The post read, “Bitcoin doesn’t need CLARITY. America needs clarity.”
However, the Strategy founder hasn’t elaborated on his point. But the post suggests that the CLARITY Act is more important for the United States than for the cryptocurrency itself. He believes that the market structure bill would help the US establish a clearer regulatory framework for digital assets. But Bitcoin does not depend on government legislation, especially due to its decentralized nature.
US Senate Delays Crypto Bill Till September
The US Senate has reportedly delayed the CLARITY Act. As noted by the Majority Leader John Thune, the crypto bill vote will not happen this week. Instead, the vote will be scheduled once the Senators return after their summer recess in September.
The decision has disappointed many in the crypto industry. This is mainly because they believe that this postponement could bring further delays in the market structure bill. After the August recess, the Senators will have a lot of other legislative priorities, including the midterm elections. However, John Thune reassured that the CLARITY Act will be considered first when the Senate returns in September.
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It is worth noting that the Bitwise CIO Matt Hougan has also shared a similar view recently. In an official post, he stated that the crypto industry has the capacity to progress even without the passage of the CLARITY Act. He wrote,
“The best thing that can happen if Clarity doesn’t pass this week is that the Polymarket odds break solidly lower—into the teens at least—so we can put the uncertainty behind us. If that happens, the market might wobble for a minute, but it will set us up to rally in the fall.”
According to Hougan, the SEC could advance crypto regulations even if the CLARITY Act stalls. He believes this is a sign that the crypto industry can move forward despite the current regulatory uncertainty.
Related: CLARITY Act Delay: Why Bitcoin’s Biggest Gains Came Before Regulatory Certainty
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