CLARITY Act died in Congress and the market pumped 11%.

Bitwise CIO Matt Hougan says this is actually bullish. The bill would've choked platforms with brutal stablecoin rules and exchange restrictions.

Market clearly agreed - $BTC ripped on the news.

Hougan's take: crypto is too big to kill now. The genie's out. Regulatory uncertainty > bad regulation.

Sometimes the best policy is no policy.