According to CoinMeta, Wu said that Zach Pandl, the head of research at Grayscale, indicated that due to the Senate's schedule and political factors in an election year, the likelihood of Clarity Act being passed this year is relatively low. He believes that the failure to pass the bill will not immediately affect the development of Bitcoin, major blockchains, and stablecoin payments. Regulators such as SEC are expected to still pass subsequent rules to fill regulatory gaps, especially in the field of tokenized securities. However, the lack of a complete market structure regulatory framework may lead to more new investments and development activities moving outside of the United States.