Washington seems to have some trouble moving forward the Clarity Act. How important is regulation for the crypto story?

The regulation is very important because we don't know which government is going to come next and is there's going to be a witch hunt, especially given all the conflict which has been established by the current government. So, we need to make sure that the business is safe and we don't have the witch hunt which we had last time and um four years back before this government, or three years back. So, uh regulation is very important, but where we are stuck in Clarity Act and even though now everybody's saying August 3rd, which is today, if we file it, maybe on August 7th, we can have it. I doubt we're going to have Clarity Act on the floor by August 10th.

You doubt?

I doubt. Because if that would have been the case, I could have sensed a lot of movement by the uh, you know, all the lobbyists from the crypto and blockchain side being in DC and really figuring it out. Um, do we need it? Yes. Where are we stuck? I think the biggest place where we are stuck, which we have talked before too, is banking lobby.

Mhm.

Um, I think one of the main part which crypto industry has been trying to push, which is actually completely in favor of retail customer is to have a higher interest rate on their dollars if they keep it in stable coin which is completely pegged and you can liquidate it at any given point than what you get in your saving account. And that's where the banking lobby is stuck because they make so much money on those saving account uh cash which they have uh on their repos, on their money markets, on so many collateralized products, that's going to wash away.

Mhm.

And I think that's where we are stuck in the industry today.