Yes, tokenized equities are equities. And tokenized commodities are commodities. But market structure must adapt and should not be enshrined by laws designed to protect incumbents and prevent progress. Intermediated market structure should be an option, not a requirement. Self custody should be a right, not a privilege. Behaviors and activities should be regulated, not software. Allow risk taking. Allow failure. Allow experimentation. Step back and focus on principles, not special interests. Deliver clarity. That’s what we need for a market structure bill to succeed. 🇺🇸🇺🇸🇺🇸