SummaryIn this episode of the Canonical Pod, hosts Fahad Saleh and Brad Bachu engage with Lewis Cohen, a prominent crypto lawyer, to discuss the evolving landscape of crypto legislation in the United States. The conversation delves into the complexities of the market structure legislation currently being deliberated in Congress, The conversation especially provides insight regarding the Clarity Act (passed by the House of Representatives in July 2025), and contrasts it with the Senate's approach. Beyond discussing active legislation, the conversation provides various background content including the transition from state to federal regulation, the role of the SEC, and the implications of maturity and decentralization in crypto assets. Chapters00:00 Introduction to Crypto Legislation and Guest Introduction02:35 Understanding Market Structure Legislation06:46 Transition from State to Federal Regulation11:25 The Role of the SEC in Crypto Regulation13:14 Overview of the Clarity Act19:48 House vs. Senate Approaches to Regulation24:07 Defining Digital Assets and Securities26:56 Understanding Layer Two and Digital Commodities31:44 The Clarity Act: Definitions and Regulations38:06 Maturity vs. Decentralization in Blockchain46:42 Final Thoughts on Crypto Regulation

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