According to CoinMeta, Michael Saylor indicates that Bitcoin does not require the CLARITY legislation. Although that legislation was not passed, he expects that crypto regulations in the United States will continue to advance, and banks may expand their Bitcoin custody and lending services. He believes that the failure of the CLARITY legislation will not prevent the institutional expansion of Bitcoin; on the contrary, it may promote its adoption through the existing rules of financial institutions. Saylor emphasizes that regulatory authorities will continue to formulate rules related to cryptocurrencies, especially in terms of custody and other services. Despite the failure of the CLARITY legislation to pass, this does not prevent regulatory authorities from formulating individual rules or banks from expanding their crypto businesses.