Bitwise's chief investment officer, Matt Hougan, forecasts an 80% likelihood that the Clarity Act will pass by late 2025 or early 2026. The proposed legislation seeks to streamline cryptocurrency regulation by designating the SEC and CFTC as primary overseers. Hougan attributes the bill's potential success to growing political momentum, $260 million in crypto PAC funding, and backing from the Trump administration. Despite these favorable conditions, the Clarity Act faces significant hurdles in the Senate. Opposition arises from Democrats advocating for more stringent regulations on decentralized finance (DeFi), which could impede the bill's progress.