The bill defines the compliance surface. It doesn't solve the hard part: how do you prove compliance on-chain without rebuilding the centralized infrastructure crypto was designed to replace? The assumption that compliance requires full exposure is where the infrastructure debate gets stuck. Compliant privacy that proves what regulators need to see without exposing everything to everyone, is a more honest answer to how on-chain compliance actually works. That's the architecture worth building, and we're building it.(Horizen)