Cryptocurrency

I think crypto has done a great job of leading a whole world of people into a process that helps the big guys get to where they want to go. So as a policy matter, I do see crypto as an op to build towards the CBDC. And regulation is another issue. SEC has talked about regulating some of the cryptocurrencies on the basis that they are securities and others are not. It depends on the structure. But I don't think it's good or bad. I think it all depends.