BREAKDOWN: Yesterday's Hearing Was Crypto's Most Positive Interaction with the US Government, Ever
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 9 December 2021
⏱️ 22 minutes
🧾️ Download transcript
Summary
Does this represent a turning point for the U.S. crypto industry?
This episode is sponsored by NYDIG.
Yesterday the House Financial Services Committee held a hearing on the future of digital assets. Shockingly to almost everyone, the tone was respectful, collegial and considered, and lawmakers seemed genuinely interested in working toward a greater understanding of the industry.
In today’s episode, NLW covers why the hearing felt different as well as key themes like U.S. dollar hegemony and the rebranding of crypto to “Web 3.”
-
NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
-
“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit: Stefani Reynolds/Bloomberg/Getty Images, modified by CoinDesk.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | I have to imagine that for a lot of folks, it's finally just the point at which they can no longer |
| 0:05.5 | ignore crypto. They finally have to take the time to form an actual opinion on that. |
| 0:10.8 | It may be that a lot of what we're seeing is just that shift happening, the fact that it is |
| 0:14.9 | no longer ignorable, and people finally being able to and willing to allocate the time to figure |
| 0:20.2 | out how they actually feel |
| 0:21.6 | about an industry that is clearly not going away. |
| 0:26.1 | Welcome back to The Breakdown with me, NLW. |
| 0:30.2 | It's a daily podcast on macro, Bitcoin, and the Big Picture Power Shifts remaking our world. |
| 0:37.4 | The Breakdown is sponsored by Nidig and produced and distributed by CoinDesk. |
| 0:43.3 | What's going on, guys? It is Thursday, December 9th, and today we are talking about why yesterday's |
| 0:49.3 | hearing in Congress was crypto's most positive interaction with the U.S. government ever. |
| 0:56.3 | And as you might be able to guess, the title sort of says it all. I tweeted something much |
| 1:00.9 | to the same effect yesterday, and I really believe it. I have been watching these hearings for |
| 1:07.0 | years, and the tone is always, always, mostly antagonistic or disinterested or |
| 1:14.0 | grandstanding and just trying to weave these issues into someone's personal political talking |
| 1:18.7 | points or what have you. I think yesterday represented a fundamental tone shift, and what I'm going |
| 1:24.1 | to do is go through some of the themes that came out to try to convey that. |
| 1:28.3 | Now, first the setup. |
| 1:29.7 | Yesterday's hearing was called digital assets in the future of finance, understanding the |
| 1:33.8 | challenges and benefits of financial innovation in the United States. |
| 1:37.6 | The crypto industry was represented by Jeremy Aller, the co-founder, chairman, and CEO of |
| 1:41.6 | Circle, which of course, as part of the center consortium issues USDC, the stablecoin, Samuel Bankman-Fried, chairman, and CEO of Circle, which of course, as part of the Center Consortium |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.