According to the latest talk of crypto Tsar David Sacks, there is a high probability that the market structure bill will be passed in August. THIS IS A MORE SIGNIFICANT CRYPTO REGULATORY CLARITY DEVELOPMENT THAN THE GENIUS STABLECOIN BILL. The following table summarises the key elements of the Market Structure Act: From the perspective of secondary market investment, since the "asset classification" part of the bill is likely to classify Tokens as commodities and be regulated by the CFTC, it will be beneficial for PerpDEX in the long run. The leading projects of the PerpDEX track, such as @HyperliquidX @SynFuturesDefi, have benefited from this bill. The "market rules" part of the bill will exert huge regulatory pressure on the product paradigm and business model of the current offshore exchange, and the acceleration of decentralization/walletization of CEX will be an adaptive evolution strategy that has to be adopted in the new environment of the industry, and the CEX platform currency will face certain adjustment pressure, which should be actively avoided at this stage.