Bitwise plans to transform cryptocurrencies with Crypto Week laws
- Cryptocurrency Week Could Boost Regulation in the US
- Regulation attracts Wall Street and large financial institutions
- Bipartisan support strengthens the advancement of pro-crypto laws
With three pro-crypto legislative proposals on the agenda in Congress during Cryptocurrency Week, Bitwise's chief investment officer, Matt Hougan, stated that the sector could undergo permanent change. For the executive, the approval of these laws could mark the beginning of a new era for digital assets.
The big impact of “Crypto Week” legislation will be reduced risk and downward volatility in the crypto market.
FTX, Luna, Celsius, and other scandals happened in large part because we refused to provide reasonable regulations. IMO 70%+ drawdowns are a thing of the past.
— Matt Hougan (@Matt_Hougan) July 14, 2025
The U.S. House of Representatives declared the week of June 14th "Cryptocurrency Week" and announced the advancement of three major bills: the GENIUS Act, which establishes guidelines for stablecoins; the Clarity Act, which defines the regulatory framework for the cryptocurrency market; and the Anti-CBDC Act, which aims to prevent the creation of a central bank-issued digital currency. GENIUS has already been approved by the Senate and could become the first federal cryptocurrency legislation in the U.S.
According to Hougan, regulatory clarity would pave the way for large financial institutions like JPMorgan, Nasdaq, and Bank of New York Mellon to operate freely in the sector. This could unlock billions of dollars in investment and accelerate the tokenization of traditional assets, solidifying the presence of cryptocurrencies within the global financial system.
Bitwise's CIO emphasized that effective regulation would help prevent fraud and collapses like those seen in cases like FTX, Luna, Celsius, and Mt. Gox, which have damaged the sector's credibility. He believes that well-defined rules in the US would hinder the actions of malicious actors and make the environment safer for institutional and retail investors.
In addition to security gains, Hougan highlighted bipartisan support for cryptocurrencies in Congress. The GENIUS Act passed 68-30 in the Senate, including support from 18 Democrats, reflecting broader political support for the issue. He also noted that growing interest from Wall Street and the popularity of crypto assets among young voters made reversing these policies unlikely.
"You can't put the genie back in the bottle," Hougan said. For him, the approval of the legislative proposals signals that cryptocurrencies are becoming an institutionally and politically consolidated trend.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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