According to CoinMeta, and as reported by Bloomberg, Christopher Giancarlo, the chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that even if Congress fails to pass the Crypto Market Structure Act, the crypto industry will still be subject to regulatory rules. Giancarlo mentioned that the CFTC is evaluating various crypto regulatory measures and can establish relevant rules based on existing legal authorities. The process is currently hindered by disputes over ethical provisions in the Senate, with a procedural vote expected to take place in September. In addition, the CFTC is advancing regulations for predictive market event contracts and plans to complete these regulations soon. At the same time, the CFTC is seeking public feedback on "computing power futures" transactions related to computing power. Giancarlo also indicated that the CFTC will cooperate with the Department of Commerce to establish standards for computing power futures to ensure that related products meet regulatory requirements.