According to CoinMeta, specialist Hester Peirce stated that despite the Clear Act not having been passed yet, SEC will continue to advance the formulation of crypto regulations. She is optimistic about the completion of this bill and pointed out that if it is legislated, there will be a significant amount of work to be done in formulating rules. Even if the bill is not passed, SEC can still establish a framework for those who wish to use crypto assets for fundraising.