In the south, Coinbase (07711) has doubled its long position, rising over 9%, as of the time of writing, it has risen by 9.64%, reaching 43 Hong Kong dollars with a trading volume of 2.07 million Hong Kong dollars. On the news side, according to market media reports, Coinbase CEO Brian Armstrong will have lunch with Senate Republicans on Wednesday to discuss the CLARITY Act vote. The bill will be voted on Thursday. It is understood that if the "CLARITY Act" is signed into law, it will clarify the jurisdiction of US financial regulators over this rapidly growing industry, and is likely to promote the widespread adoption of digital assets. As of May 11, the US cryptocurrency concept stocks collectively strengthened, with Circle (CRCL.US) closing up nearly 16% and Coinbase (COIN.US) up over 7%. The cryptocurrency industry has been pushing for this crucial legislation, calling it essential for the future of American digital assets and necessary to address core issues that have long plagued cryptocurrency companies. In addition to other matters, this legislation will define when cryptocurrencies belong to securities, commodities, or other categories, providing legal clarity for the industry. Meanwhile, the compromise clauses surrounding stable coin idle holding rewards have become the most contentious issue between the banking industry and the cryptocurrency industry.