Bernstein has stated that the failure of the US Congress to pass the CLARITY Act could have significant implications for the cryptocurrency market.
According to Bernstein, this failure could trigger another decline in crypto valuations, and may also accelerate policy support from US regulators.
This is based on reporting from CoinTelegraph.
The CLARITY Act is intended to provide regulatory clarity for the cryptocurrency industry, and its failure to pass may lead to increased uncertainty and volatility in the market.