Tim,

do you want to weigh in? Sure.

Well, I would first say the problem is that we speak of digital assets as if it's an asset class, and it isn't.

It's a technology.

We're talking about blockchain and tokenization technologies, which can be used in all sorts of ways.

You can have tokenization of securities, of stocks and bonds, and potentially other real-world assets or other financial instruments.

You can have network tokens of blockchains, which is what Bitcoin and ETH are.

So maybe in 30 seconds or so, if you were to envision a regulatory framework that will take care of this space of digital assets and have us go into a world of innovation and the future of finance, if you want, what do you think it should include and how do you think it should look like? Tim, maybe you can start.

Tim,

do you want to weigh in? Sure.

Well, I would first say the problem is that we speak of digital assets as if it's an asset class, and it isn't.

It's a technology.

We're talking about blockchain and tokenization technologies, which can be used in all sorts of ways.

You can have tokenization of securities, of stocks and bonds, and potentially other real-world assets or other financial instruments.

You can have network tokens of blockchains, which is what Bitcoin and ETH are.

So maybe in 30 seconds or so, if you were to envision a regulatory framework that will take care of this space of digital assets and have us go into a world of innovation and the future of finance, if you want, what do you think it should include and how do you think it should look like? Tim, maybe you can start.

How do you see it?

Well, I agree this was plainly a bad thing, a wrong thing.

You don't have to be a crypto expert, I think, to see that.

The Trump organization took advantage of the impending inauguration to make money.

And they did so in a way that wasn't just a conflict then, but it can create conflicts in the future.

Because you can have companies and countries now buying that coin to coins rather to try to curry favor with the administration and and finally it's in my mind a bit of a black eye for crypto it's exactly the kind of speculative activity pushing up token prices that we've had far too much of and it really runs counter to the whole philosophy of the executive order which is to promote The responsible development of this technology, that's what I would like to see.

How does that relate to the strategic Bitcoin reserve idea? Is that a good idea?

All right, so that's saying the government should own Bitcoin and other crypto assets.