According to CoinMeta, the efforts of the crypto industry to seek regulatory clarity seem destined to repeat the fate of Sisyphus. The U.S. Senate recently failed to advance the Digital Assets Market Clarity Act (also known as the Clear Act), and with midterm elections approaching, the likelihood of reviving this bill is almost non-existent. The bill aims to establish a market structure framework that would classify crypto tokens, license trading companies, and delineate the regulatory powers between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). If implemented, this bill could unleash tremendous potential for the crypto industry, including expanding financial inclusivity and reducing cross-border payment costs. However, regulators are naturally hesitant until the rules are clarified, and ordinary Americans also lack trust in an unregulated market. Congress has long recognized the need for a comprehensive regulatory framework, but legislative efforts since 2018 have not made substantial progress. With the swearing-in of a new Congress, the advancement of the Clear Act will face a reset.