So much of the debate about market structure is basically PTSD from an overzealous SEC that sneered with delight every time they found a new way to kick crypto in the ribs in public. The current SEC is the polar opposite - where it seems like even without new legislation, there can be a real path to a coherent, sensible regime. But can the current agency atmosphere persist? This market structure debate presumes it won't, and that agency hands should be (appropriately) tied to specific, appropriately detailed policy prescriptions. They can't just make it up as they go. But the point remains - we have policy PTSD and both sides of the digital commodity/ancillary asset debate will have its doomsday scenario if their position doesn't come out on top. My contrarian take is that - and hear me out - it may not really matter that much. Under either regime, regulations must be promulgated which set the actual rules which people like software devs must comply with. There is no perfect here, and either regime will permit a path forward, but a path with administrative peril as well. My main point is, people like me are very employable in perpetuity. :)