The draft 'Market Structure Discussion Paper' proposed by the U.S. House of Representatives today has sparked heated discussions in the industry. The provisions in the draft regarding the regulatory framework for cryptocurrency trading platforms are particularly noteworthy—requiring platforms to enhance asset reserve transparency, establish investor risk education mechanisms, and planning to include DeFi protocols under SEC regulation. If the draft is passed, it could promote the compliance process in the industry, but it may also stifle innovation among small and medium-sized exchanges. Practitioners are advised to pay attention to Article 12 of Chapter 4 concerning the new regulations on 'cross-chain transaction reporting,' which may impose higher KYC requirements on cross-chain bridge project parties. The draft is still in the consultation phase; do you think this regulatory intensity balances innovation and risk?