Michael Selig

i think that's going to be a really exciting thing to have here in the united states well speaking of the blockchain what can you do further when it comes to digital assets if if congress just cannot get through the clarity act well the cfdc's got a lot of authority we're certainly going to continue to make sure that we're prepared for on-chain markets and we're modernizing and upgrading our rules and regulations so that an exchange that wants to put their markets on a blockchain can do so here in the united states it's really

unacceptable to be pushing all this stuff offshore simply because it's a different type of technology.

The Clarity Act is really, I think, a powerful piece of legislation because it'll help future proof our crypto markets by ensuring that things are in statute.

And the Supreme Court said very loud and clear that if things aren't explicit in statute, there's a risk that

The agency doesn't have the same sort of deference on some of the authority of the agency.

That said, we have very broad authority over our derivatives markets, of course, over anti-fraud and anti-manipulation in the spot markets.

And then to the extent an exchange is offering margin trading, that's also within our authority.

So there's a lot we can do with or without legislation.

Well, I just brought on a new enforcement director, and he's quickly staffing up and building out that capability.

And it's very important to have

folks in each office and throughout the building.

But of course, we're not operating kind of like a Starbucks model where you have an office on every block with people in it.

We've got a critical mass in D.C., and that's where a lot of our enforcement attorneys are housed.

We've got a number of attorneys in New York, of course, as well.

in Kansas City, so we'll continue to build out personnel in each office.

But we're also in a world where AI and automation are allowing us to do so much more with less individuals.

So I'm not concerned about being able to fulfill our obligations, but I'm always excited to bring on people that are willing to help support the mission.