There's not a single jurisdiction, including the EU, that has put regulation in place for

defy head.

And you have even large international regulators like the IMF saying you can't do tradfai

defy regulation one to one.

They don't map to each other.

A lot of what I've said on the Hill, even in the last two to three months is it sounds

like it's from the future, but it actually exists today.

And so we have to sort of future-proof anything we put around this.

Let's bring in our first guest, Chief Operating and Legal Officer at Gino Labs and Friend of the

show, Rebecca Redding.

My favorite title is friend of the show.

Right?

Yeah, that's great.

Rebecca, you are actually sitting in D.C. right now.

Renato and I, we're just talking about market structure.

We, of course, know that you are following it very closely as it pertains to your your position at

Gito Labs. Talk to us about what you're watching with market structure and maybe I'm back for

our audience. Help us level set here why it's so important for builders for people who participate

in this ecosystem to really be paying attention to what's going on. Yeah, really appreciate that.

Thanks. I was actually on the hill all day yesterday. I'm going back after this. So this is a very timely conversation from a

number of perspectives. But, you know, what's actually happening with market structure right now is

it's over on the Senate banking side. the Senate Democrats and the Senate Republicans and a very

...