On January 17th, a significant signal worth noting. During the earnings call, the CEO of a major investment bank bluntly stated: the highly anticipated "Digital Asset Market Clarity Act" (CLARITY Act) is still a long way from being implemented.

How important is this bill? To put it simply, once passed, the US crypto market will have a comprehensive regulatory framework — the impact on stablecoins and the entire crypto ecosystem can be described as "transformative." So you can understand why Wall Street is paying close attention.

But the executive's assessment is very realistic: although there is high internal importance, based on recent 24-hour developments, this will take time. The game between parties, balancing interests from all sides, are all obstacles. Advancing a bill involving financial innovation is inherently unpredictable.

That said, he also admits that such regulatory innovation is indeed crucial for the industry. From another perspective, this kind of stance actually reflects a phenomenon: the dialogue between traditional finance and crypto is heating up, but progress is much slower than market expectations.

What does this signal mean for the crypto community? The market's expectations for the bill's implementation may need to be more rational. How the bill moves forward will directly influence the global pricing logic of crypto assets.