The U.S. Securities and Exchange Commission (SEC) has received two new submissions focusing on self-custody rights and the regulation of decentralized finance (DeFi) markets. Submitted on January 20, one proposal from "DK Willard" emphasizes the importance of preserving self-custody rights for Louisiana residents, citing state law HB 488. It argues for maintaining strong registration and anti-fraud measures in upcoming federal crypto legislation. The second submission, from the Blockchain Association Trading Firm Working Group, requests clarification on dealer rules for tokenized equity markets. It suggests that firms trading tokenized equities and DeFi assets for their own accounts should not be automatically classified as "dealers" under the Exchange Act. These submissions come amid ongoing negotiations over the federal crypto market structure bill, CLARITY, with industry leaders like Coinbase CEO Brian Armstrong advocating for compromise to advance the legislation.