According to CoinMeta, investor Kevin O stated that Congress will revisit the CLARITY bill in the first quarter of next year. During the Avalanche summit in New York, he pointed out that although the bill received 49 votes on Tuesday, he believes the chances of it passing are zero. The bill aims to establish a federal framework for the crypto market, including the roles of SEC and CFTC. O’ Leary believes that the failed vote is merely a delay in the process and mentioned the Digital Assets Tax Determination Act that was advanced by the House of Representatives this week, suggesting that legislators will have to return to the issue of market structure. He noted that Congress is clarifying how to tax crypto activities such as staking, while industry regulatory issues remain unresolved. O’ Leary expects that legislators will return to legislation on market structure after the midterms, which could emerge in the first or second quarter following the elections.