Clarity Act Failure Gave Crypto Faster Regulatory Wins, Bitwise CIO Says

Hougan's argument reframes a legislative loss as a procedural advantage: agencies can move faster than Congress, but that speed is also more reversible. Rules advanced through the SEC can be unwound or reinterpreted with a change in leadership, whereas statute is durable. That distinction matters most for institutions weighing long-horizon exposure, since it shifts the risk from whether rules arrive to how long they last. Whether agency-led momentum outlasts the political cycle that produced it is the open question.