Why didn't we create a consortium to really get at this?

There was actually a consortium that came together on the crypto side.

And that I think was really important because it was very much about new payment rails.

So there were companies that cared deeply about this that did help actually ensure that we reached a compromise that allowed for activity based rewards.

And you can see that that breadth of activities that were that were very clearly enumerated in the legislation demonstrated the different business models and people who want i mean everything to i mean there were conversations about starbucks points and what the banks wanted starbucks would not have been allowed to have a point system if they used any kind of stable coin that's insane and so there were a lot of people in the room we had our own trade associations come together you could see summer mercinger with the blockchain association and Ji Kim with CCI, the Crypto Council for Innovation.

They were tremendous.

You had Cody Carbone also from the Digital Chamber.

But how do you think the industry is going to respond to this?

Why didn't we create a consortium to really get at this?

There was actually a consortium that came together on the crypto side, and that I think was really important because it was very much about new payment rails.

So there were companies that cared deeply about this that did help actually ensure that we reached a compromise that allowed for activity based rewards.

And you can see that that breadth of activities that were that were very clearly enumerated in the legislation demonstrated the different business models and people who want everything to.

I mean, there were conversations about Starbucks points and what the banks wanted.

Starbucks would not have been allowed to have a point system if they used any kind of stable coin.

That's insane.

But how do you think the industry is going to respond to this?

What does this mean on the Hill? How does consumer education track with some of the policymaker education work that you're doing?

It's actually not dissimilar.

Uh, I s- again, started working, uh, for Coinbase back in 2016 when there were probably five members that could spell crypto.

And that literally was, um, that was at the baseline of folks like Tom Emmer, who read a book about this and became obsessed with the idea of ownership and the ability to move value.

And he really started, along with folks like, uh, Patrick McHenry, who became the chairman of the House Financial Services Committee.

You had Senator Lummis, who has her own personal story.

Personal stories brought some of these people into the mix, but more frequently than not, it's their children's personal stories that brought them into the mix.

You know, from where you sit, what does this look like when this crypto literacy translates into real economic opportunity for someone?

Yeah.

We've never had those types of ethics requirements.

So that, it really is unprecedented.

And I think the question is, uh, do Democrats, do they continue to ask for more? And I think Senator Tillis has actually played a really important role here of trying to determine what is the appropriate level of requirement and, and of, and, and an ethics obligation.

So he's working through that.

I think he's got a good faith partner with, um, w- at least with Senator Gallego.

The question is how much further, especially when there's something that will, will directly impact the president and his family, and how do they think about that? So it's a big question, and it's a big ask.

Yeah.