Today, the CLARITY Act has four key points, and even if it is passed, it still needs to go to the entire Senate for a vote Firstly, stable coin returns. This is the biggest controversy. The current compromise direction is still to prohibit the interest on idle stablecoin balance, which means that stablecoins cannot provide interest while lying still, but allow transaction rewards, usage rewards, and activity rewards. The banking industry is dissatisfied and worried that this will indirectly drain bank deposits. Secondly, AML/KYC/anti money laundering. The Democratic Party, especially the Warren camp, believes that the current version lacks strong constraints on anti money laundering, sanctions evasion, and illegal financing, and demands that more digital asset platforms be included in compliance obligations such as the Bank Secrecy Act. Thirdly, the Trump family/political ethics clause. The Democratic Party wants to add stronger ethical provisions to restrict the President, government officials, and their families from profiting from crypto projects. This is the most obvious part of the current party struggle. Fourth, the regulatory boundary between SEC and CFTC. Which tokens are considered securities and which are considered commodities. Are exchanges, brokers, and DeFi platforms regulated by the SEC or CFTC. The core of the CLARITY Act is to place most digital commodity trading under the CFTC framework, while retaining the SEC's supervision over security tokens and tokenized securities. Additionally, there are currently over 100 amendments, and Warren alone has submitted over 40. Therefore, today's focus is on which of these amendments will be accepted and which will be rejected. Even if passed today, it only represents the CLARITY Act passing through the Senate Banking Committee, and the bill will be officially sent to the entire Senate from the committee. However, the entire Senate usually requires 60 votes, and if the Republican vote is not enough, the support of the Democratic Party is also needed. So even if it is passed today, it does not mean that the bill has officially become law. There is still a long way to go.