My guest today is Michael Hsu, the Acting Comptroller of the Currency, and we are talking all things– and only things – crypto. Our conversation covers a lot of other ground: the lack of interoperability among today's stablecoins; whether and how stablecoin issuers should have bank charters; problems with blockchain technologies; the evolution of Central Bank Digital Currencies; the role of the US dollar as the world's reserve currency; whether US regulation could undermine America's international competitiveness; the unique challenges posed by regulating DAOs (since they are basically just a set of rules); potential lessons from the birth of the internet; and the blockchain "trilemma" cited by Vitalik Buterin forcing prioritized choices between decentralization, security and scalability. He also ponders the human factor, as people feel a sense of "community" in decentralized finance, while also embracing a world that promises to monetize, and transact around, nearly every aspect of their lives.

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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