MONEY REIMAGINED: Amidst Congressional Turbulence Senators Gillibrand and Lummis Speak on Overhauling Regulations at ‘State of Crypto’ in DC
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 22 November 2023
⏱️ 32 minutes
🧾️ Download transcript
Summary
At CoinDesk’s State of Crypto event in Washington, DC. Senators Gillibrand and Lummis discuss their bold comprehensive regulation bill aiming to unify all crypto interests under 'one tent.’ The conversation touches on the current legislative progress and the consequential impact on crypto innovation.
This episode is sponsored by CME Group and PayPal.
In this week's episode of "Money Reimagined," amid our Thanksgiving week programming, we present a unique recording – host Michael Casey with an on-stage interview at CoinDesk's State of Crypto event in Washington DC last month with Senators Kirsten Gillibrand of New York and Cynthia Lummis of Wyoming. As co-sponsors of a crucial bill (Lummis-Gillibrand Responsible Financial Innovation Act) to overhaul crypto regulation, their insights offer a timely and significant perspective amidst the ongoing drama and turmoil in Congress, particularly on the day of the interview, coinciding with the House's vote on a nomination for speaker.
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Unpacking the Latest Lummis-Gillibrand Bill Draft
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Money Reimagined has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “The News Tonight ” by Shimmer.
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Transcript
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| 0:49.8 | This episode of Money Reimagined is sponsored by CME Group and PayPal. |
| 0:54.2 | The narrative is important and you as industry participants can have a role in shaping that narrative |
| 1:00.1 | by writing op-eds, by writing thoughtful pieces, by asking for meetings with Senate and House |
| 1:05.7 | offices, by informing mainstream financial services about use cases and what works and what doesn't work and why. |
| 1:13.8 | But there's so much misinformation about everything from FTX to Hamas. |
| 1:19.4 | And I think it is incumbent upon people who are knowledgeable to spread truth and to make sure |
| 1:24.3 | people understand what they're actually talking about. |
| 1:26.3 | As we have watched the |
| 1:28.5 | litigation occur at the SEC, it was our perception that the SEC was trying to basically expand |
| 1:36.0 | the definition of the Howie test that had been used in over 200 Court of Appeals cases in the United States. So we went through and tried to find |
| 1:48.1 | what is the state of the definition of the Howie test today, the test that basically |
| 1:52.5 | determines what is a security. And we think we've captured it in our bill. |
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