I and @KrakenFX remains fully committed to supporting Chairman @SenatorTimScott and Subcommittee Chair @CynthiaMLummis’s efforts to advance the market structure bill. It has taken many years of sustained bipartisan work to get to this point across administrations market cycles and shifting political dynamics. It is easy to create deadlines. It is easy to declare failure. It is easy to walk away when a process gets difficult. What is hard and what actually matters is continuing to show up, working through disagreements, and building consensus in a system designed to require it. Market structure legislation is, by definition, complex. Resolving it was never going to be frictionless. The existence of remaining issues does not mean the effort has failed. It means we are doing the hard work of governing. Digital asset market structure does not stop at a single asset or category. It spans decentralized networks like $BTC $ETH and $SOL along with stablecoins tokenized equities (@xStocksFi) and yes even meme assets such as $DOG that millions of people already hold and trade. Pretending these markets do not exist does not reduce risk. It simply pushes them outside of clear rules and effective oversight. Walking away now would not preserve the status quo in practice. It would lock in uncertainty and leave American companies operating under ambiguity while the rest of the world moves forward. The economics here are straightforward. Capital is mobile. Talent is global. Innovation follows regulatory clarity. Over the past several years, major jurisdictions, including the EU, the UK, Singapore, and others, have enacted comprehensive digital asset frameworks. The result has been predictable. Investment infrastructure and market activity increasingly develop where the rules are clear. When the United States delays or fragments market structure, activity does not disappear. It reallocates often offshore beyond the reach of US consumer protections, US supervision, and US markets. That outcome does not strengthen American leadership. It weakens it. Other jurisdictions are not drawing artificial lines between asset classes. They are building unified frameworks that cover spot markets derivatives tokenized securities and consumer trading across the full spectrum of digital assets. If US exchanges cannot list and operate across the same breadth of products from $BTC and $ETH to tokenized equities and emerging retail driven assets they will compete at a structural disadvantage by design. This legislation is not about favoring any single company or business model. It is about ensuring that US based exchanges and financial institutions can compete globally on a level playing field rather than operating at a structural disadvantage to foreign counterparts with clearer rules. Reasonable people can disagree on specific provisions. That is precisely why the final stage of this process matters. The right response to outstanding issues is to resolve them not to abandon years of bipartisan progress and start over from scratch. I am looking to help resolve the remaining issues, move this process forward, and deliver durable market structure legislation to the @POTUS desk. Regulatory clarity for digital assets will drive innovation, investment, and consumer protection and ensure the next generation of financial infrastructure is built in the United States by American companies for American consumers. What's at stake if we don't resolve and come to the table is worse than giving in to foreign adversaries.