English transcript

Can you talk about why it's so important that Congress pass digital asset legislation?

Senator, when the United States leads in best practices, safety, and soundness in the financial world,

whether it's our banking system, our securities, or now digital assets,

it's important for the U.S. to lead for several reasons.

One, U.S. leadership over the long term secures the primacy of the dollar as a reserve currency.

Two, our best practices will emanate to the rest of the world

because what had happened is digital assets were in dark, unregulated places,

and they will come into the U.S., and we will be able to use our anti-money laundering

and the KYC and have a much better handle on digital assets, both for payments.

And I think this is going to be a very important payment rail.

And again, the U.S. has to lead here.

We are the technological leader in the world.

We should be the payments leader in the world.