David Hoffman

Let's say the regulatory clarity.

Yes.

Design.

The SEC and the CFTC just clarified the rules of the road for crypto.

They're actually telling us at this point which crypto assets aren't securities and which ones are

It's almost like they're giving crypto everything it's always asked for and that it is possible to provide clarity on crypto assets without going through an act of Congress.

the laughter and the claps.

We're not the securities and everything commission anymore.

We're going back to securities and we're going to tell you clearly which crypto assets are securities and which aren't.

And they name five.

So this is sort of an informal rulemaking document that the SEC and the CFTC released.

How many pages?

This is a 68 page document.

So you guys can go through it.

We'll include a link in the show notes.

Put it through your AI bot if you want, but it's our job to summarize.

So there's five categories, a taxonomy of crypto assets that the SEC just released.

Let's go through them.

Chair Paul Atkins did go through them, but digital commodities is the first.

These are apps tied to a existing functional decentralized crypto system.