The latest market structure bill markup just dropped, and I want to highlight how important it is for DeFi. The Clarity Act is fundamental to giving DeFi developers the confidence to build in the US, backed by strong developer protections. If the US wants to lead in DeFi, the framework must preserve the ability to build and maintain decentralized protocols without imposing unworkable obligations on DeFi developers that are better suited for centralized models. If US succeeds, rest of the world will follow. The question of yield has always been largely irrelevant, in my humble opinion. Passage of the Clarity Act could create a similar tailwind for DeFi as the Genius Act did for stablecoins. That’s far more important than anything else: giving developers the clarity and confidence to build the future financial rails the world will rely on. I appreciate all the work the Senate Banking Committee members have done throughout this long process, and I encourage members to vote in favor of a bipartisan framework that developers can rely on. DeFi will win.