🚨NEW: The Senate Banking Committee’s latest market structure draft reflects stakeholder and lobbyist feedback. Here are some standouts from the text: 1. Ancillary Assets (Section 101): This section aims to provide more legal clarity, exclude assets that are clearly securities, provide that staking and airdrops are not securities, as well as providing that SEC enforcement actions and private lawsuits cannot be brought against existing tokens issued before the date of enactment, providing they are not fraudulent. 2. DePIN (Section 504): A new exemption included for decentralized physical infrastructure networks from securities laws. 3. Protecting Software Developers: Self-custody protections (Section 506), DeFi exemption (Section 501) and Blockchain Regulatory Certainty Act (Section 505) are all maintained in this new draft. 4. SEC-CFTC Coordination: A process has been established for the SEC and CFTC to work together on a Joint Advisory Committee to make decisions in the digital asset space (Section 701) and to resolve any disputes (Section 702).(Eleanor Terrett)