According to CoinMeta, the U.S. Senate was unable to advance a bill on crypto transparency on Tuesday, resulting in a lack of a unified federal framework for the U.S. crypto industry. The roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) remain unclear. This move deprives retail investors in the U.S. of the opportunity to access a clear and regulated market, while institutional investors also lose the necessary legal certainty. Publicly traded companies such as [company names not provided] saw their stock prices fall by about 10% after the vote. The CEO of [crypto exchange name not provided] stated that in the short term, digital asset service providers with licenses from overseas regulatory markets may emerge as winners. Nevertheless, [expert opinion not provided] believes that this uncertainty in the U.S. is not good for the entire industry. The CEO of [another company name not provided] believes that market activity will not suddenly shift to Asia due to one vote. She pointed out that the crypto market is inherently global, and traders will continue to seek the products and liquidity they need.