$HYPE
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We'll power our agents with their own credit system, resulting in a further burn mechanism. Empowering our community by using earned fees to deepen liquidity and allocate spots that are given out to our users. Private Beta is already running. Public very soon.
WATCH: @RepTimmons on the future of digital assets: “250 years ago, the American experiment literally created the most freedom in the history of human civilization. And I actually think that emerging technologies, digital assets, blockchain technology is going to help freedom [Spoken audio]: Thank you, Mr. Chairman. It is wonderful to be here as we mark the one-year anniversary of the Genius Act being signed into law. We are also getting closer to bringing the Clarity Act across the finish line, with the goal of ensuring America leads the world in digital asset, innovation, and emerging technology. As we discuss what a fully implemented Clarity Act would mean for the future of digital assets in the United States, I want to begin with you, Mr. Samansato. One of the act's central goals is to establish a clear regulatory framework that promotes innovation while strengthening market integrity and consumer confidence. How will the Clarity Act encourage responsible innovation while also safeguarding its illicit finance, market manipulation, and operational risks? I mean, I think the key is in defining those entities that will fall within the regulatory perimeter and then empowering regulators to actually oversee them. I mean, truthfully, the discussions around the regulation of this industry for the past decade have been, you know, one of excitement and newsworthiness. And as a former regulator, it should be a fairly boring job, right? You should know the entities that are under your jurisdiction and be able to implement that. At the same time, we're talking about a novel technology that has the potential to be very innovative and come, you know, be used in a bunch of different ways, as you've heard from some of the witnesses today. And what that requires is an understanding of where that line is, right? So many have been acting in an environment in which, you know, there's kind of unclear, unwritten rules out there. There's evolving interpretations between various regulators. And that's just not an environment in in which if you're a software developer, somebody who wants to see some of the future innovations be built, that you can really operate easily in. And so the fact that Clarity kind of draws those very clear lines, gives guidance both to the regulators and to the individuals participating in these networks is really powerful. Thank you for that. Regulation by enforcement during the previous administration drove much of America's digital asset innovation overseas. How will the Clarity Act help reverse that trend, and what impact do you expect it to have on bringing companies investment, talent, and technological innovation back to the United States? I think one of the unique aspects, I'm not an expert on which jurisdiction is ahead and which one is behind. But at least from my perspective, seeing a lot of the individuals who are in the US are probably some of the people at the cutting edge of thinking about this innovation. And then there's a lot of structuring to get out of the country to avoid potential regulatory hiccups over the last few years. And that is an environment that is just not conducive to seeing the development that you would want to see in a country. Again, going back to that point of if you have the clear established rules plus the clarity of who is outside of that, and we think it's very important from coin center's perspective on the BRCA and some of those developer protections to create the environment in which individual ingenuity, absorbing some of the American values of liberty and freedom of speech that are inherent in this technology, allowing people to build off of those is really important. I'm going to expand on what you just said. It's just very fitting that we're here, Federal Hall, 250 years ago. The American experiment literally created the most freedom in the history of human civilization. And I actually think that emerging technology, digital assets, blockchain technology is going to help freedom flourish in a way that few other things have in human history because of the decentralized nature of it. So we had a hearing on my subcommittee on the Oversight Committee, Military and Foreign Affairs, about the challenge that emerging technology will pose to authoritarianism. And if you think about the tools of authoritarianism, of autocracy, is information control and capital control. If you can control what your citizenry believes to be true and if you can control their resources, you can control them. And this is going to have a huge impact on authoritarian government's ability to control their population's wealth. Do you agree with that? Yes, and I mean, I think honestly, blockchain technology is even just one aspect of that. We're in a time now where technology is changing so quickly and how governments choose to interact with that and with the people is an extreme new risk, right? And it's really important to kind of ensure that the values that protect the individuals from participating in these and developing these and allowing the development of that digital space to look like the development of our physical space in this country 200 years ago is extremely important. The clarity act is incredibly important in maintaining the US economy as the center of the global economy. Do you agree with that? Yeah, I mean, to the extent that this is going to be a technology that is infused into the businesses of all these other witnesses here, it is imperative that that be within the structures, just like our securities markets are, just like our derivatives markets are. I think part of the reason of their success over the years has been the regulatory environment in which they get to operate. Thank you for that. We're on the one yard line. We just got to square the touchdown. With that, I yield back. Thank you.