All right, welcome back to another Crypto Daily 3 at 3.

So today was another hearing day.

We were back to the Senate Banking Committee, a site of the scene from David Marcus' hearing

two weeks ago about Libra.

And today the theme was theoretically about cryptocurrencies and digital assets beyond just Libra. And today, the theme was theoretically about cryptocurrencies and digital assets beyond

just Libra. So the conversation was meant to be a hearing about regulatory frameworks for

crypto assets in general. And so I think there's a couple of things that are important to

acknowledge. First, it's undeniable that Libra is the meta context that is provoking all of these hearings

now, right?

Sure, you know, Bitcoin has been sort of on the agenda.

Blockchain has been something people are hearing about, but the reason that it's arising

as an issue right now that you're seeing hearings back to back and consecutive or, you know,

just a couple of weeks apart is that people are nervous about Libra. And so today the real question

was, were we going to see some actual substantive conversation about regulations and the way

that the U.S regulation regulatory regime should engage with

crypto assets or were we just going to see another Facebook and Zuckerberg

Bashfest because if you remember a couple weeks ago there was almost no

substantive conversation about cryptocurrencies and at all it was entirely about

Facebook and so what we saw today is that first, there definitely was a move away

from just the rampant Zuckerberg bashing, right? This wasn't about that, perhaps just because

there was no one from Libra there to take those punches. But second, it was also very clear

that the dominant and overarching context for every part of this conversation is Libra, but not just

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