Congress And SEC discussed on Unchained

Unchained
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Automatic TRANSCRIPT

To have that come kind of clarity come through congress or through SEC or can there be both or how does that part work? Yeah. I mean, I think it can be, you know, congress is is our overseer. So they're looking at what we're doing. And because as I said in in the in the innovation space, the SEC is often pretty slow to act, and so sometimes it does take a nudge or a stronger than annoyed from congress to tell us we need to do something. And and so the token taxonomy act would be one way of getting the SEC to do something on this front. You know, put a safe harbor essentially in the statute to say, if you're if you're within this framework, you're not considered a security so one option is is for congress to spell that out. Very clearly in which case we go ahead and implement it. Another is for congress to tell us to do something. So congress could say to us design a safe harbor for tokens, and that would sort of force the issue. Sometimes congress is very disappointed with what we come back with when they tell us to do something like that. Because we say well, all right. We're going to design a safe harbor, and we're going to put all these restrictions on it. And then essentially we're back to ground back to where we started. And then congress has to push us again. So sometimes they want to be a little bit more prescriptive and say, here's what we're here's what we're thinking of. Here's what we want you to do. And so that's one option. But I think it's really I think it's really exciting that people in congress are thinking about this issue to try to grapple with the questions that I'm trying to grow up with power securities laws interact with with this space last

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