When crafting spot crypto market legislation, we need a regulatory framework that actually works—not one that blurs lines between different asset classes. The thing is, tokenized securities simply don't belong in this discussion. They muddy the waters and create confusion about what we're really trying to achieve. Here's the critical part: we can't compromise the SEC's ability to bring traditional finance onto blockchain just to reach some middle-ground deal. That's the real issue at stake. Protecting regulatory authority now means preserving the pathway for genuine financial system innovation down the road.