Passing committee is a political milestone, not a technolog…

Passing committee is a political milestone, not a technological one.
Market structure bills can make it easier for intermediaries, funds, and custodians to operate — but becoming the “digital asset capital” won’t be decided by how efficiently we regulate speculation.
It will be decided by whether the underlying systems: • scale without discretion
• operate with fixed rules
• minimize custodial choke points
• and remain usable across political cycles
Capital follows clarity. Infrastructure follows utility.
If leadership means anything durable, it won’t come from routing everything through better-regulated middlemen — it will come from building systems that still work when the regulatory mood shifts.
That’s the layer that actually compounds.
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