CLARITY was the culmination of nearly a decade of crypto legislative and policy efforts. This is just a speed bump. Our industry's broader regulatory efforts continue. The US still has several paths to provide meaningful clarity for crypto. Whether it's through @SECGov and @CFTC rulemaking, future legislation, or both, it’s clear there is no slowing down. A durable US framework should include strong protections for developers, recognition that (when done right) DeFi protocols are infrastructure rather than intermediaries, and rules capable of achieving equivalence with other jurisdictions. Getting that framework right is the ultimate goal, and we here at @Morpho will continue to dedicate our time, energy, and resources to ensuring we achieve this goal.