Bitwise sees peril in stalled crypto legislation amid political unrest

Bitwise CIO Matt Hougan warned that the digital asset market may face a turbulent summer without key crypto legislation from Congress. He expressed concern that without legal safeguards, recent gains in the industry could be fragile and that future administrations could reverse progress made by President Trump’s administration. Stablecoin legislation faced a setback in the Senate, losing critical backing from Democratic senators. Despite this, Hougan remains optimistic that digital assets could reach record highs this year if Congress provides legislative clarity.