On the 15th (local time), although the CLARITY Act's cloture vote (decision on whether to proceed to a full floor debate) in the U.S. Senate failed, preventing its passage, cryptocurrency asset manager Grayscale diagnosed that crypto regulation is progressing. Grayscale emphasized, "The U.S. Securities and Exchange Commission (SEC) announced conditional approval for on-chain trading of stock tokens on the 17th, indicating that a cryptocurrency regulatory framework is being built in real-time. We need a clear regulatory framework. Therefore, even if it's not necessarily a bill, we will achieve regulatory clarity."