Tom Lee says crypto can keep growing without Clarity Act

Tom Lee, chairman of Ethereum treasury company Bitmine (BMNR) and DeFi Technologies (DAT), said the cryptocurrency market can continue to rise even if the Clarity Act does not pass. Lee said actual demand in the crypto market matters more than any single bill. He added that if the Clarity Act passes, it would create a clearer regulatory framework for the crypto industry and further clarify the Commodity Futures Trading Commission’s role. Even if the bill does not pass, however, Lee said the CFTC and the SEC would continue to serve as the main federal regulators overseeing the industry. He also pointed to prediction markets and sports betting as examples of sectors that kept growing despite regulatory uncertainty.