Bitwise Chief Investment Officer Matt Hougan pointed out that the crypto market is at a critical crossroads as industry support for the 'Clarity Act' wavers. The probability of the bill passing has dropped from 80% to 50% after Coinbase CEO called the draft 'unworkable' and withdrew support. He warned that if the bill fails, the industry will enter a 'proof period,' where it must make stablecoins and tokenized assets as indispensable to the real economy as Uber and Airbnb within the next three years to force regulatory concessions. Otherwise, a shift in Washington's stance could lead to catastrophic consequences. Hougan also mentioned that gold surpassing $5,000 reflects a trust crisis in the fiat system, but this has not fully translated into upward momentum for the crypto market, mainly due to regulatory uncertainty. (CoinDesk) http://(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=55792