Chris Giancarlo

And that's exactly what happened.

That's no way to run a railroad.

That's no way to run the world's largest economy.

The right way would be to get legislative action.

I know you spoke to former Chairman Henseling earlier, and I understand he's handicapping in this at 60-40.

I think that's probably about right.

We'll have to see the way the wind blows.

A lot of this is political and a lot of it is congressional politics, Senate politics.

Some of it is trad five versus crypto.

So it's complicated if this is going to get done.

But I would also agree that it's probably a better chance it gets done than it doesn't get done.

Ever since I fell down the crypto rabbit hole at the end of the last financial crisis, I've always looked at crypto as a better architecture of finance.

And I still look at it that way today.

Of course, it's an awesome new alternative asset class, but far more important, I believe, is its role to underpin the new financial system.

It's a digital network architecture of finance.

It's in all of our interests that we have the type of national legislation that we had back in the 1990s, the Telecommunications Act, that unleashed the first wave of the internet.

It gave it a sound legislative and legal underpinning.

I think we all need a sound legal underpinning so that whoever is elected in the next presidential election can't, at a whim, as it was done in the last, become hostile to this innovation.

If we put the American economy on a digital network architecture, we're going to win the next century.

We've got to have that legislation, I believe.