According to CoinMeta, as reported by The Block, Matt Hougan, the chief investment officer of Bitwise, stated that even if the US Clarity legislation is not passed this week, the crypto industry will continue to develop. The US Congress will be in recess from August 10th to September 11th, leaving only three days left for the Clarity legislation to be advanced in the Senate. Hougan pointed out that if the legislation is not passed, SEC Chairperson Paul Atkins may introduce more favorable regulatory rules for the crypto industry. He also warned that delaying legislation will increase market uncertainty and hinder institutional investors from entering the market.