00:00 Speaker A

The CFTC proposes new federal framework for leverage retail crypto trading. The agency floated a new crypto asset manage, excuse me, crypto asset market cam.

00:11 Speaker A

Cam Newton. Cam. Exchange category, but said it can’t require crypto to trade on CFTC platforms without Congress. So this is where that push and pull of the clarity act comes in. When the clarity act failed, the SEC moved immediately, the Friday after we saw that the CFTC and their commission of one, Mr. Mike Celing, the commissioner, who’s the only CFTC commissioner right now,

00:41 Speaker A

that he submitted some rulemaking proposals to the White House, but we did not know what they are. Presumably this is what…