The US has for quite a while been reluctant or unable to legislate. Americans are still much more convinced that there is faith in the operation of the markets and greater faith in the tech companies' self-regulation. So that's why I've often described the American way of regulating more of a market-based approach as opposed to the European rights-based approach. We see very little meaningful legislation emerging from Congress. Till today, we are seeing something like a voluntary guidance coming from the White House.

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