AND CRYPTO, AND WHY IS THE SEC SUDDENLY NOW SO SEEMINGLY LASER FOCUSED? JOIN PERRY ANN, WHAT'S YOUR TAKE? IT'S LIKE SEC GONE WILD. >> YEAH. I MEAN THIS IS POLITICALLY DRIVEN I'M A FIRM BELIEVER THAT CRYPTO IS NOT GOING AWAY. THIS IS ABOUT INNOVATION IT'S ABOUT TECHNOLOGICAL PROGRESS, AND AT THE END OF THE DAY, YOU HAVE TO ASK YOURSELF, IS WHAT'S RIGHT FOR AMERICANS HOLDING BACK INNOVATION? AND I DON'T THINK SO THIS IS A TRILLION DOLLAR INDUSTRY TODAY THERE'S OVER 1 MILLION JOBS IN THE U.S.THAT ARE AT RISK THIS IS AN ATTACK NOT JUST ON THE CRYPTO INDUSTRY BUT ON AMERICAN INNOVATION IN THE CAPITAL MARKET S>> WHY AREN'T CRYPTO FALLING ON THIS NEWS? >> JUST AS COINBASE SHARES TANKED EARLIER IN THE DAY, YOU SEE THEM REBOUNDING A LITTLE BIT AFTER HOURS. CRYPTOCURRENCIES, IT WAS SORT OF A MUTED REACTION AT FIRS >> THIS IS REALLY THE SHOE THAT INVESTORS WERE WAITING TO SEE DROP REGULATION HAS BEEN SUCH A DARK CLOUD OVER CRYPTO THIS ENTIRE YEAR THE ENFORCEMENT ACTIONS HAVE COME OUT SINCE ABOUT JANUARY, AND IT'S REALLY, YOU KNOW, THE LOW VOLUMES THAT WE'VE BEEN SEEING SINCE APRIL ALL COME BACK TO THE REGULATORY UNCERTAINTY. YOU SAW THAT SEC HIT COINBASE WITH A WELLS NOTICE IN MARCH, AND THERE'S BEEN THIS SORT OF LEGAL BACK-AND-FORTH BETWEEN THE SEC AND COINBASE WE'VE KNOWN THIS WAS COMING. IT WASN'T A SURPRISE TO MANY PEOPLE NOW THAT IT HAS COME AND WE CAN SEE WHAT'S INSIDE THE LAWSUIT, INVESTORS ARE KIND OF REACTING LIKE THIS IS A GOOD THING. NOW THE WORST OF THE WORST, WHICH WE'VE BEEN EXPECTING, IS KIND OF BEHIND US. >> YOU WONDER, PERIANNE, THAT POINT OF VIEW, WHILE ANNOYING IN THE SHORT TERM, POTENTIALLY DAMAGING TO SOME OF THESE COMPANIES IN THE NEAR AND MEDIUM TERMS, IS THERE AN UPSIDE TO THESE LAWSUITS TO FINALLY GET SOME CLARITY, OR MAYBE WE JUST HAVE EVERYBODY OPERATE IN THE BAHAMAS OR HONG KONG OR UAE. >> WELL, I MEAN IF THERE IS A SILVER LIKE, IT CERTAINLY IS THAT, ONE, WE NOW SEE THE SEC'S CARDS. THESE SUITS HAVE BEEN FILED AND WE SEE WHAT THEIR ARGUMENTS ARE. AND THERE'S A NUMBER OF PROBLEMS WITH THESE LAWSUITS. THAT'S WHY THIS IS NOT JUST BAD POLICY, BUT THEY'RE ALSO ARBITRARY AND CAPRICIOUS, AND THEY'RE EXPOSING THE SEC AS WELL AS INVESTORS TO RISK AND TO SUMMARIZE WHERE WE ARE, WHERE THE CHAMBER IS, WHERE OUR MEMBERS ARE, THIS IS THE TIME TO FIGHT. BEHIND THE SCENES, THERE ARE PRODUCTIVE CONVERSATIONS THAT ARE HAPPENING ON BOTH SIDES OF THE AISLE WITH POLICYMAKERS AND CONGRESS WE'RE DRIVING AND LEADING A NUMBER OF THOSE, AND THERE IS A HUGE APPETITE TO GET REGULATORY REFORM DONE TO REIN IN WHAT THE SEC'S ACTIONS HAVE BEEN IN THIS SPACE AND TO MAKE SURE THAT THE UNITED STATES WILL BE A JURISDICTION WHERE TECHNOLOGY CAN BE DEVELOPED, INVESTED AND IN
