At the panel hearing of the US House of Representatives Financial Services Committee and the SEC Chairman and members, Congressional representative Anthony Gonzalez said that for cryptocurrencies, the focus has shifted to Singapore, Switzerland and the United Kingdom due to transparency issues. Many companies choose to operate overseas. They want to wait for the United States to solve problems such as supervision before planning to return to the United States. But the question is, when will we have more specific regulatory guidance for cryptocurrencies? What actions does the SEC take to achieve its goals? SEC Chairman Jay Clayton said the difficulty is that each project is different, and we are already responsible for the work.