Bloomberg analyst: Clarity Act failure is politics and media bias, not industry's fault
- —Balchunas: industry "went all in" to advance the Clarity Act
- —He blames partisan gridlock, not crypto's own missteps, for the failure
- —Roughly 90% of media are biased against crypto, he estimates
- —He cited bitcoin's value for markets in poorer countries
Why it matters: The Clarity Act's failure leaves US crypto regulation to the SEC and CFTC, raising uncertainty for the market.
Source: PANews