The post US Regulatory Shift Could Open $20 Trillion Industry to Crypto: Bitwise appeared first on Coinpedia Fintech News
Bitwise CIO Matt Hougan has claimed that regulatory uncertainty has obstructed the $20 trillion financial advisory industry from investing more in cryptocurrencies. He mentioned that recent political shifts, such as Democrats advocating for the withdrawal of SAB 121 and the passage of FIT21 by the House, are indicators of increasing regulatory clarity. Moreover, this clarity could significantly boost crypto market growth. Although President Joe Biden has vetoed the withdrawal of SAB 121, Hougan remains hopeful for a positive outcome. He sees the SEC’s approval of spot Ether ETFs as a positive step. As the crypto community awaits regulatory changes, Hougan believes there is great potential for crypto adoption once these legal uncertainties are resolved.
