The lobbying group for the crypto industry has been active in Washington this week. On Thursday, they just met with the Senate office, focusing on one issue—the regulatory framework of the "Responsible Financial Innovation Act." In simple terms, it's a fight over pricing authority: should the regulation of digital assets be handed over to the CFTC or the SEC? These two agencies have been bickering recently. The industry prefers the CFTC to take over, with strong reasons. However, this matter will have to wait until the political climate shifts; it might not be settled before 2027. From a short-term trading perspective, the market should remain calm, with no major fluctuations before policies are implemented. For long-term holders, the outcome of this lobbying effort is worth paying attention to—after all, different regulatory approaches can significantly impact liquidity and compliance costs for crypto assets.