Travis Hoium

It may not be consumer-first friendly.

It might mean that businesses still have to figure out what to do with credit card fees.

All of that can be true, and it can still be the right decision in terms of financial stability and long-term financial stability.

That's the point.

And we can argue until we're blue in the face about fairness.

We can argue about, oh, what are you doing in that?

But at the end of the day, the job of the regulator is to keep the status quo working because the status quo has gotten us

200 years in pretty well.

And that's exactly what they're doing here.

And I'll be on it.

Maybe I'm just a, you know, old Luddite, but I appreciate that holding.

And look, I think you put it really well.

And I think, you know, the investors who are listening to this, who own maybe shares of banks, maybe shares of Visa or MasterCard, the credit card processing companies, or like myself, I own shares of Coinbase.

Think about that.

What sort of disruption is there?

What does disruption potentially look like?

And what is holding off that disruption?

Because I think you laid it out that you're arguing that the status quo is beneficial, even if it's less efficient and less consumer friendly.

Does that ultimately win?

That's something that the market is going to eventually figure out one way or the other.