Chris Giancarlo

But the third phase is the ultimate one, and that is not only having executive actions and good regulators in place, but actually codifying it in law.

Well, let's tip our hat.

I know it was only an appetizer, but getting genius done.

Think about it.

The first financial major financial service legislation in 15 years since Dodd-Frank was done within five months of the new president taking office.

That's a pretty awesome accomplishment.

But we do need to get the Clarity Act done.

And I would argue that crypto doesn't need the Clarity Act as much as TradFi needs Clarity Act.

Crypto builders are going to build.

We're going to build here in the United States, we're going to build overseas, but we're going to build no matter what the government does.

TradFi, on the other hand, can't just go overseas.

And if they're going to commit the type of billions of dollars necessary to really build crypto out as financial service architecture...

then they need regulatory clarity to do it.

So they need this.

And I tell the banks all the time, you need this more than the crypto builders don't.

If you don't do it, if you don't get this done, they're going to go overseas and build.

And then 10 years later, they're going to come back and eat your lunch.

So the courts didn't want to be doing that.

It was foisted on them by the Biden administration where their official, although never announced policy, was to not make rules and try to suppress crypto as much as possible.

And if necessary, force it to the courts where it would be a jump ball in terms of what decisions would come out.