According to CoinMeta, and as reported by Bloomberg, White House cryptocurrency advisor Patrick Witt and U.S. Treasury Department Assistant Secretary Luke Pettit stated that the likelihood of the Clarity bill passing during the lame-duck session of Congress is extremely low. The focus of regulation has shifted to relying on administrative agencies and the existing legal framework to promote compliance. Regulatory bodies such as SEC and CFTC should exercise their existing legal authorities to carry out their work.