Thanks to @RepFrenchHill, @CongressmanGT, @RepBryanSteil & @RepDustyJohnson and their staff for advancing a regulatory framework for digital assets in the United States. The release of the market structure discussion draft marks an important milestone, and we commend their work to bring clarity and balance to this novel and evolving policy space! We reviewed the discussion draft alongside a community of aligned teams, developers, operators, and lawyers, and we aggregated a list of constructive issues and recommendations to help strengthen and clarify elements of the discussion draft ahead of formal introduction and any potential markup. We submitted these comments to staff on May 9th. Thanks to everyone who contributed and particularly to @SH_Brennan for helping to lead the process. For the full list of recommendations, see below. We’re particularly encouraged to see several control-based decentralization principles, similar to those from our Designing Policy for a Flourishing Blockchain Industry report, reflected in the draft. And to see the discussion draft incentivizes decentralization (aka network maturity), which will be critical in enabling a flourishing ecosystem of digital infrastructure, applications, and businesses that provide significant autonomy and economic opportunity to users. Please reach out to us if you have any feedback on our recommendations or want to contribute to our work in future!