MREP139 MainAudio File

Michele Musso29min

Sheila

00:00

welcome to Money reimagined. I'm Sheila Warren, a reminder to listen to Us Weekly on the CoinDesk Podcast Network or wherever you get your podcasts. And we'd love to hear from you. Tell us what you think. Email us at podcast@coindesk.com subject line, money reimagined. This week you've got Michael and I are doing one of our riffs on the weekend review and what's happening in the crypto ecosystem. It's been a wild week with tremendous activity coming out of Congress United States, we also had the launch of Fed now, we also have movement on some of the cases that had been making their way through the courts. Michael, where should we start?

Speaker 1

00:37

Well, I'll tell you big they're all sort of a federal match this in a way they all get to this question about policy and regulation and government involvement in those Boseman fed now being, obviously, the project for Faster Payments launched by the Federal Reserve. Look, I mean, go to your wheelhouse. Let's look at this. Look at those those bills that have kind of come making some progress now, a couple of them in in the house.

Michael Casey

01:05

What I don't know that it feels like the very fact that it's happening is good. There is some degree of consensus. It's people are sort of happy. I think that I think it was the broad crypto bill, that the ones got into two committees that had six Democrats vote for it, people seem very celebrated that there was this, that the six of them were, you know, gave it this bipartisan feel, you know, this, maybe it speaks to our times, it speaks to our times that that's that's considered a win. Right. Wow, six people right now? Well, here's my,

Sheila

01:35

here's my take to your point. Here's my take on the thread that connects fed now and these bills, right. So in the context of United States, these are huge things like I don't want to in any way discount that the fact that you know, comprehensive legislation on regulation of an entire asset class coming out of the House Ag and finance services committee together. It's just a gigantic deal. And and yes, six votes is six votes. But I mean, six votes by Democrats in a time when politics United States is so partisan is a big deal. And I think we should recognize exactly, but it's a big deal on context. Oh, yeah. Yeah, exactly. That's right. And then similarly, fed now is a big deal. United States, it is huge, that we're going to have real time settlement. But when you zoom out even a little bit in the context of the world, you know, so we can talk at length, I'm sure. The point being, you know, it's not the innovation that us thinks it is if you talk to most other countries in the world,

Michael Casey

02:31

anywhere else in the world, and you can pretty easily move your money from somebody else's bank and pay with your current pay with your phone and whatever. And it's all done through a faster payment system that integrates you know, banks in a year and a now. And then

Sheila

02:42

similarly, the comprehensive digital assets regime. I mean, well, we already have that in other places, we have mica, we have the MES and their rules, right. So yay, the US yay, you know, kind of like, you know, just taking on the conversation.

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