On May 1, 2023, the House of Representatives introduced the 'TBAA Act', which for the first time clearly categorizes Bitcoin and Ethereum as 'digital commodities', and stipulates that the SEC and CFTC will share regulatory responsibilities, covering areas such as DeFi, stablecoins, and self-custody. However, the Senate's 'GENIUS Act' was rejected on May 8 with 49 votes against and 48 votes in favor, mainly due to conflicts of interest arising from the Trump family's involvement in crypto projects. Nevertheless, Congressman French Hill indicated that the stablecoin and market structure bill is expected to pass before the August congressional recess, showing that both parties are still striving for consensus. Currently, U.S. crypto legislation is at a critical juncture of regulatory and political maneuvering, and its future direction is highly anticipated.