The digital-asset industry will keep growing even if the U.S. Senate fails to pass the CLARITY Act, the market-structure bill for digital assets whose path forward remains uncertain.

Cointelegraph reported on August 5 that Bitwise Chief Investment Officer Matt Hougan said many investors expect clarity on the bill this week. But he said the digital-asset industry has already reached a point of no return and will continue expanding even if the legislation fails.

The Senate is heading into its summer recess, and the bill would need to clear procedural hurdles by August 5 to keep moving. Market concern has grown that if the CLARITY Act does not pass before the recess, action on the measure could be pushed into next year.

Expectations for passage have also declined. Galaxy Research last month lowered its estimate for the bill's chances of passing this year to 30%. On Polymarket, the probability stood at 23%.

Hougan also said that if the CLARITY Act does not pass this year, the Securities and Exchange Commission and the Commodity Futures Trading Commission could move directly to write related rules. The SEC is prepared to draft rules covering the main issues addressed in the CLARITY Act, he said, adding that the industry could keep growing for about another two and a half years even if legislation is delayed.

He added, however, that regulatory interpretations are less stable than legislation enacted by Congress and could change with future court rulings or a change in administration.