HUGE CRYPTO REGULATION NEWS! TRUMP WINS, GARY GENSLER RESIGNING, & PRO CRYPTO CONGRESS!
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To your point, you apply after you rather resign now or before the mission upgrade, or he will be gone pretty much when time is another day. One point of an acting chair, I M, I imagine probably something is a current commissions. My mind goes a marketta, but I can see has a pure as well.

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Great to see you again, jonny. Uh been a wild a couple of hours so that dive into all that .

what a night for crypto obviously president trump uh winning reelection um uh or or getting into office again, I should say confuses because I know since grow or clever and I think that was that you have a present you know in this type position, but obviously he's seen as the procreate to candidate um and then you also have a big win in congress, in the house, in the senate. So lot of stuff to start off with. What are your first impressions about what happened last night?

Um first of shock, those decides so quickly but um very decisive two so uh IT seems like a law of drama that we were respecting that would take up prop with the first couple weeks uh of the country back next week or even go into january when the new conscience forming know there were a lot of questions about the election services such we could see a large drum and for that we have do a lot things but the good thing that was decisive um and a combo has ceased the past hour so uh we know for sure we have a new amen and a new party I take control here and also we have a republican sweet that looks like which is um you know early on uh in this campaign cycle some toys I was possible then I had subsided and in all the sun is back on the table.

And now reality. And that has a huge of options for a cyp legislation. H, because that is a pretty great opportunity.

You get is a party and you you you don't get for more than two years. A usually the flipped ing and H, I bet the sense in a flood pride six. So they they were very little about time and they seem point to the ground running.

Uh, h on the trip, administration and with with congress. So we will see what happens. But uh, it's very busy.

Yeah and rod looked the easy thing that everyone is seeing or the big headline is trump right? But I was blown away by among a procyta candidates that won in the house and the senate um the number of some stand recruiting to I was looking at them late last night it's it's amazing. It's a pretty much landslide.

Yeah, it's crazy. I mean, the primaries were three, three, two. I think as I figure I saw almost all the races are called. Now we're so aim for some california. But I mean, overall there winning a lot these races in some big ones to and share Brown race that's the biggest race um and i've no rain for years, actually worked them a lot. When I was working for a war davin from ohio, I was elected to do him in two thousand and seventeen.

So oh from the crypto industry side uh and then really excited see him engaged because we also share Brown twenty seventeen and talk rydal gis lation having cared then he hasn't cared sense and I know have a new fresh face here so it's really exciting. See a crypto I mean O G R cryo person like getting into congress, let on the senate and taking out when the biggest uh obstacles for critical legislation the past six years. And so that's huge.

And I want to highlight here that is that was a major risk. Uh the industry uh as a whole decide to go out to share Brown the chairs and banking. He is one no twenty plus years elections and if they lost, they made the wrong.

But now they have been really painful, the frequent industry but that that paid off. That was a really big race uh, and that especially that should create forces that race right there. We trigger down to so many other races that crib dog involved in on both Debra and republican side.

So uh, it's device pretty is really, really good. And I mean, the europe times for an oral day that proved those the winter here. Uh that's a pretty excited concerning two years ago we are at the bomb of the barrel uh after S P, F and all the campaign cash that uh how to get recalled back the right um .

yeah I mean, I don't think people well, I should say I hope people recognize how big the Victory for burning marino was because charred Brown was the right hand man of a lizbeth warn and what what many would call an enforcer and Operation choke point two point o so he was a major pillars that was a going against the cypher industry. So that such a huge Victory there.

huge. And like, again, you have to remember, the senate and senate committee is in a charge of all the nomination. So if shared, Brown was still there, and let's say IT is from administration, that is me about for getting anyone approve uh especially the S C C and all these other ines have been so pivotal for our industry in some cases. So just mentally to our industry. So um seeing that now shift to republican and ten Scott, who is amy cyp to also going to create a subcommittee on Crystal, which is the first of its kind in the senate again that were not to see legislation formed for p in the senate is always used in the house now the sense to be a the building of the lead here. And so we have a lot of great options here.

You know the next step is going to be, um uh where's the personnel? L know where the truth ministration to put a lot priorities because that to be a major indication of what direction they going to go in the first hundred because IT seems like crypto, and to come up in the first hundred days for uh uh the administration, both in tax but also in legislation and a law of personal. L you can determine what that is and how to shakes out um in next two years.

Absolutely and correct me from wrong. I saw some folks mentioned that with the republicans taking the senate, tim Scott would take over uh as lead verses Elizabeth warn being delete.

So um right now the um republicans are the minority but they just want the majority the seat here. So come january, tim Scott is assumed to be the chair the uh of being in committee. And so that's a huge choose moment, you know, as a warn, this is where is interesting.

So we share Brown out, john tester out. He was also entire pe. He called a bulshed two years ago.

And guess what you are by procyta can that's the big one. H but we have jackey from the island. He want his race. Uh, he he, uh, so as a mark water for Virginia.

And then after that is was a warn the two folks I mentioned earlier, there really have other committee seats and they really can't share two at the same time or you will be ranking member. So a lot of warm technically has the leaderships in animation to be the lee democrat for um seven banking. And again, she's in the minority so he is a way less power. But that's the cross roads like the democrat party at this election in is um there is a wide recognition on the democrats that their anti cypher to approach was a really bad mistake that one allows them in to the warm camp, even though they do want to be in many cases.

And so do you have her in the all the policies that seem to be a voted against, uh, yesterday? Do you have her be the lead or do you try to find someone else you want to be that lead democrat and be more optimist, you could say, or more programs to, or more pro innovation, just more generally accepting being more instead of calling out, uh, one company after the other will be a bank crypto take what have you? So that's me. A major decision for the democrats is what direction did they want to go because if they put him up as to, uh, banking chair, IT sends a message that large the party looks at her of finance policy still and as we've seen, IT doesn't present with american people yeah I mean.

bron, i'm seeing this as an all time epic failure. Uh, talk about a bad move going against a neutral technology. And uh, I feel a lot of the democrats that you mention got bamboo le.

They got throwing into the mix. They may not have been true, evers, but warn is at the head of the ship, and they're just like tagging along. But he took IT to level along with dancer, and boy, are they paying for a big time.

And let's not forget to like more cuban road democrats in the install as well. Hey guys, we got like this is a major issue, a voting here. We had made pipal uh mistakes being tied. You we a warn or the other surrogates um we need course correct here and they did private and public conversation with the hairs campaign.

We did see the D A little bit but nowhere near the extent their public ican party of truth uh to the dement and I think that really costs them and a sensor no oh and several other races. And so um I think the democrat going have to learn where they go next in a lot folks. You point to the elon as example of kind of work on technology democrats of straight away. But again, these are all more maco decisions. I think that trickle down to eventually cyp dw where um the silicon values I think that one moment D C especially at resin is when ben horrors uh and reaction really came out and said he was trump that did send a law shock ways through dc because .

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of folks in the V C community and tech community that they are actually anti uh, democrats after there are engagement in one way or the other. The past couple years was pretty link. So h and the money came with IT. So I keep IT ee on that and see where the democrat go because that can be A A decision of where they go as a party. Uh next two years .

yeah absolutely. And and to add context, ben Harris and market driven and soft those guys, they they came out and said they voted democrat in the past and the way I don't know what happened, who was behind and maybe Elizabeth one but they what they did to elon, you know with electric cars and not inviting him to certain things, positioning they took and uh and against crp, do they drop the ball big time and man, I don't I I can even imagine how they come back from this maybe time, heal some wounds, right? People forget, uh, but they really dropped the ball here, you know and and have all the silicon valley turn against you in billionaire like bill action going on tvs and and and Peter teal and all these guys. I was blown away that they took the position they did, but I understand why they did IT exactly.

And republicans are made plenty mistakes here to theyve also across versions of other sides, at least in the very the case of cripp a we saw the truck and and really court individual uh kind needs sectors know whatever the policy issue is and for crept u he said everything we need here um and then so and so that was really exciting to kind of see that the hair folks not get the industry that and I I think as one more in inside, I was really nice to see the reaction to come as saying, you know, he wants to protect consumers and cyp falling up with thing.

What was that mean? Uh, I think two years ago, that would be different. I think we have been all crazy in canvas lobbies to would say, that's great. Now we're moving the needle, making some progress here. Uh, but trump stole the show here and that was a major flaw on their end when they let him run in this issue because there was two hundred million dollars in campaign donations there and again, the democrat got law that too um on on the crucial side and I think that's a IT seem to be tough for the democrats to can decide where they go from here and see hate we listen to the Younger folks at the party because we're losing the Younger voter the uh to trample just crazy think about um and so what happens next could be anyones guess but nothing i'll say to IT it's because it's trump does I mean, you know it's smooth ceiling uh by anything uh, we have a lot of policy issues come to ahead. And again, we also have new players and the matter folks and traffic involved.

I've been meaning with behind the scene to have been saying, hey, the elections like the signal and and we've seen as blue as stories of folks, uh, reaching out the critter industry from trap I to get more involved. That's me done to watch both the loving side in the markets are. So stay tuned me a lot of time to come. Uh, it's just a little different past two years.

oh, for sure. So let's talk about gancy. Uh, we know trump made the promise he would fire cancer in the first day. Technically, that is not something that he can uh, do or any president can do. But I heard he can demote him to becoming commissioner. However, there seems to be the unspoken rule of uh the incomes you know within the S C C as a chair would resign right they I jack indeed that tear point you apply after you .

you either resign now or before the um entrements and upgrade or he will be gone pretty much when try another day one to the point of an acting chair I mean I imagine probably someone he's like current commissioner my mind goes a marka but I can see has a cursed to as well uh being in that kind of temporary role. Again, you have to remember there will be in a two, two split there. Uh, two republicans to democrats likely. So nothing is a problem. Get done to consequential, uh, in that kind of holding pattern period until someone's a confirmed by the senate.

And that can be the big the big marker there um and you know a couple names so now uh for who is S A chair again you also look the other and like treasury uh O C C C F C C and so like that so um but the good thing about trump, at least for disco o around he does have a pretty IT seems like now going to be have to republican majority and so no one or two votes uh tanking his nominations like they did uh over four years ago. He's not going to run that situation that seems like as much so um uh but he remains be seen. Truck can also changes mind and do some one a little more conversions uh at the last second but IT seems from modern hearing they they ve been preparing for this for quite some time so I think they're to hit the ground running and go pretty and fast but with a republican congress.

oh sure um is IT possible for has supposed to, aside from the temporary chair role, become the permanent chair and then some additional commissioner ers are thrown in the mix? Or it's not possible because she's or already a commissioner and he can be promoted to that. I don't know how this all works.

No, you can promote SHE result to go to the same nomination process and such and so um and you have to fill in so so most sense double t we replace go through the nomination for herself and then go to replace for someone else to take her commission al slot. So it's in the role of possible I get back from every public statement we ve seen from her SHE can I want to do that again? He also been for quite some time so maybe he says my time he has done gonna go, uh, somewhere else. Uh, be keeping against there's for activity. He likes the reference though uh, we'll see what happens for that first but overall at least you know especially yes I from what names i'm hearing um IT seems be pretty positive but will just have to see exactly where they land on those spokes there uh and that they make IT to the wrong nation process but all indications so IT seems to be they will likely make IT through uh so uh and that's what the hard work begins that's we're going to have uh you know the personnel have to the world congress and working the agencies to get things done and to get the the in goals in the police priorities in crypto o across benisse line. And again, there is a lot here and that's going to be uh to be tough clip, to make sure breaks to the noise, to be those top tier issues there.

Do you think cancer, and this is just speculating is a hard question. But do you think cancer might be you know there's a thing there is nothing more dangerous than a wounded animal that against er might go ham drop a tone lawsuit before he runs .

out the door is very well and light and possible I mean we simple little little pressure work with him um on some front. So the easy T F for example, where uh the the the V T one twenty one and e etf came at the same time and everyone thought etf was going to prove IT seems to be in confirmation but seems to to give the industry a bone by body one one h on the retail side. But they did prove the etf that no one really saw coming.

And again, playable pressures, the key there. So we have seen a works sometimes, but we've seen enforcing actions days for the election. I was that really a smart move? We've seen also some pretty heavy handed and pretty peculiar timed S, C, C, enforcing actions or wealth nosis, like when coin base got one an hour before they were testifying, and for a house adult committee about making a market structure build, that the S.

C. Was trying IT publicly and probably was trying to kill love inside. So you know I think that we've seen some predatory tactics uh from the S E C. Um so it's not shocking um in the two months of something.

So where could happen um but a lot is a change when the new regime um now a good we can get someone confirm uh from h the administrate pretty quickly to get a lot of stuff off the books. But uh uh again, a lot more questions about the cases that the and how far go completely. There's a lot a chm k more now.

yeah for sure. Well, my hope is that sometime this month, oh, J K, we get a letter of, uh, resignation that, uh, he's planning to get out there. Then he just goes on vacation, right? H take take that how they break, gary.

what's what's up? So no, I think I think all up see the craters with more say they were never finger against her know there's been a lot more folks privately have been saying that, but maybe we have a more cover now they can say publicly. But ah it's nice to see that his rains over but again, let's never get the first script.

Major enforcement action in this space no in ripple X R P and yeah was the reminder strain. That's all that. So again, we are not by any means out the one yet um and personal is going to really next big thing to watch because yp to trump is a law of staff can be lean this and that uh dynamic really going play out.

Okay， so let's talk about uh a solution, the macro o solution that can help help fix a lot of this and that is legislation. Um there's talks. We saw chuck humor patron enry and folks saying they wanted try to get something due to land duck session by the end of this year. Um given the election results, do you think that's possible or or is too crazy right now?

It's tough um because if you're republican ministration or republican right now besides part of countries retiring, you're looking at you know saying whenever deal going right now, we know we can make a Better deal in six months because we're going to have the whole deck to ourselves on republican side and we to have no hosh back from folks like a lane brainer, for example, who's been really pushing the stay with federal pathway or saying that banks can.

coin. So you have these like dynamics that uh the adminstration currently has been really holding firm to for the past two years. That's why the coin so um there is still has no finalized deal from every source were departed to so far they able to get over that hurdle.

It's gonna to come from the folding on the democrat side, likely because there are not in the position of power, uh, to really make this negotiations here. So um my hope is that we can move forward with a byard and what we have now. But i'm very confident that if going bill does fall off frenche who is a one the man running for house family services chair uh, it's him and three others but they're all programs but he in particular he is want to see as one the front runners.

Uh he said that he wanted to put stable coins and mark structure, uh, the present death in the first six months uh now that is all for Martin structure but um I mean I IT is very much in the real possible so I can for sure this coin build done by some time uh this time next year I think we will have something on the books uh in some way, shape or form uh but to your point though, a lot can have to come through legislation is an executive order or snap the finger or the S C R ts rule. A lot uh issues that gypt has IT requires to change a law and that takes congress and that unfortunate takes time but we have a lot poetic power yeah and right pretty high mize after these ones, these elections on both of the air. So a lot can happen here, but we get be smart about how know to play resources, but also get on the best thing of the entry.

嗯， run final question here. I know it's just a day after we had we got to let the dust settle, get people die justice. But are you anticipating that people who are neutral or weren't paying attention to crypto are going to what look at this election in the results, in the spending that was done from this industry? IT and gonna start calling up the blockin association. We need to talk, uh.

we truly hope so. I mean were all this together? Uh i've been here since uh being held seven, twenty sixteen, twenty seventeen watching gypo from when I was like one two obs a bunch of not sure of the capital hill china oi um who do know them?

Uh politics to now we are the biggest force and politics um which is pretty crazy. see. So um a lot of good things can happen here, but there is a lot, a lot directions that can get off the rails.

And so we got to make sure the days by parson, we can make sure we get the right folks in the right positions should focus on the right issues because, you know this, the law folks who say, hey, we just need a suit reserve and we're done. That's like the only thing we need for cypher. Or we hate we just need N F T clarity.

And that said, no is a whole slew issues and so we are make sure we get the whole slew deck uh addresses much we can and um yeah some good policy here. We know remember you is catching up like we're not starting at the same one as everyone else. We've a way to go.

So let's see, move forward and little all remember again, at the end the day we are all in this together. So uh, it's going to start. You can have a lot of things probably coming up soon, have some part of the three part. Hey I this is the time where cyp da is all in one boat. So as we do A B A um and we know other trades do the same banks which can make but best people for its looking for a tony and see more as time goes on.

absolutely think we can to twenty five. It's gonna very interesting. And uh I would love to beat down there with you and the fox of the blocks and association and uh you know celebrate a bit but also continue to educate right and and and get people to understand this technology Better.

exactly. But one I say tony is um s commissioners. I've had I was a congress said that they listen your podcast.

So it's it's really signs that this is the medium that will focus their information in dc. So keep up the great work this is going to see um and again, stake to do. It's gonna busy.

Thank you so much. D.