The CLARITY Act is still moving forward. The Senate's cloture procedural vote, which requires 60 votes to proceed, will take place tomorrow. The Republican side claims that this version has already incorporated 126 substantive amendments proposed by the Democrats. From what I remember, the U.S. initially had a very strict stance on cryptocurrency policies. There was a period of suppression, back when Yellen was around, and every time she spoke, she criticized Bitcoin. Then things started to shift with Musk and Dogecoin. The U.S. went from pandemic-era money printing to moving from an ambiguous stance to openly supporting crypto globally. If we were to divide U.S. crypto policy into three phases, I think it would look like this: 2017–2021: Crypto went from resistance to ambiguity. 2021–2025: From ambiguity to openly supporting comprehensive development. 2025–2026: Crypto becomes a new industry that needs regulation. Post-CLARITY: Crypto starts becoming part of the U.S. financial infrastructure. So even if this time the CLARITY Act doesn’t get the 60 votes due to political reasons, I think the overall direction of U.S. crypto policy is already very clear. First, this thing has already become a fundamental national policy. It’s not something that can be changed by anyone. The U.S. needs cryptocurrency, not the other way around. I’ve talked about this logic many times before. Second, the White House has already made it clear that if Congress fails, the SEC and CFTC will still continue to use existing rulemaking authority to advance the regulatory framework. The debate now is about guardrails, not whether crypto should exist. The existence and development of crypto are already indisputable facts.