| six what other legal regime should apply |
3.96 |
Jump to 9.54 |
CARDINAL
six
|
| recognize for five minutes for your oral |
4.32 |
Jump to 58.079 |
TIME
five minutes
|
| world's Reserve currency one downside is |
4.56 |
Jump to 117.18 |
ORG
Reserve
|
| the three to four percent transaction |
4.26 |
Jump to 168.72 |
|
| strikes a good balance between these two |
4.98 |
Jump to 247.14 |
CARDINAL
two
|
| Massachusetts recirculate 70 cents of |
4.68 |
Jump to 286.86 |
GPE
Massachusetts
MONEY
70 cents
|
| compared to just 20 cents for large |
3.36 |
Jump to 291.54 |
MONEY
just 20 cents
|
| for five minutes for your oral |
3.68 |
Jump to 326.22 |
TIME
five minutes
|
| and today we have two bills under |
3.9 |
Jump to 405.84 |
DATE
today
CARDINAL
two
|
| same across all 50 states |
4.32 |
Jump to 488.58 |
CARDINAL
50
|
| second while the committee Bill outlines |
4.32 |
Jump to 522 |
ORDINAL
second
PERSON
Bill
|
| for five minutes |
4.14 |
Jump to 651.12 |
TIME
five minutes
|
| available I think there'd be two aspects |
5.519 |
Jump to 684 |
CARDINAL
two
|
| of it one is the number of stable coins |
4.799 |
Jump to 686.04 |
|
| the second aspect of it would be a |
4.799 |
Jump to 693.6 |
ORDINAL
second
|
| assets match that on a one-to-one basis |
3.421 |
Jump to 698.399 |
CARDINAL
one
CARDINAL
one
|
| two drafts and one that we're going to |
4.08 |
Jump to 741.42 |
CARDINAL
two
|
| the first time but you you you you know |
5.041 |
Jump to 818.639 |
ORDINAL
first
|
| the currency had two digital asset firms |
4.98 |
Jump to 847.44 |
CARDINAL
two
|
| committee for his five minutes of |
3 |
Jump to 921.06 |
TIME
his five minutes
|
| uh there are I believe currently three |
4.201 |
Jump to 935.399 |
CARDINAL
three
|
| coins are there I believe it's five no |
4.86 |
Jump to 941.339 |
CARDINAL
five
|
| probably 20 000 I think they would claim |
5.82 |
Jump to 949.019 |
CARDINAL
20 000
|
| they're stable coins yeah so so five out |
4.74 |
Jump to 951.899 |
CARDINAL
five
|
| of twenty thousand are registered in New |
4.62 |
Jump to 954.839 |
CARDINAL
twenty thousand
|
| 50 states |
7.5 |
Jump to 1012.56 |
CARDINAL
50
|
| promulgated uh covered two directives |
7.82 |
Jump to 1112.64 |
CARDINAL
two
|
| one was to presumptively prohibit uh |
8.639 |
Jump to 1115.4 |
|
| first with clear rules of the road and |
5.64 |
Jump to 1219.08 |
ORDINAL
first
|
| subcommittee five minutes thank the |
4.32 |
Jump to 1240.5 |
TIME
five minutes
|
| so that no one state can game the system |
4.74 |
Jump to 1261.559 |
|
| companies one of which was a stable coin |
3.839 |
Jump to 1313.7 |
|
| their Capital At One Bank Silicon Valley |
6 |
Jump to 1317.539 |
CARDINAL
One
LOC
Bank Silicon Valley
|
| them there on purpose I might add so one |
6.421 |
Jump to 1384.559 |
CARDINAL
one
|
| coin go to zero how in the a regulated |
6.66 |
Jump to 1392.96 |
CARDINAL
zero
|
| Commodities would that really go to zero |
4.62 |
Jump to 1406.58 |
CARDINAL
zero
|
| they're high quality level one high |
4.261 |
Jump to 1422.059 |
CARDINAL
one
|
| is recognized for five minutes |
4.38 |
Jump to 1559.64 |
TIME
five minutes
|
| of a second |
2.94 |
Jump to 1634.52 |
ORDINAL
second
|
| one-to-one ratio which you emphasized |
5.101 |
Jump to 1660.919 |
CARDINAL
one
|
| discovered and implemented the two |
3.661 |
Jump to 1681.559 |
CARDINAL
two
|
| um one of the other areas that I've done |
3.66 |
Jump to 1781.1 |
|
| five minutes |
3.481 |
Jump to 1887.659 |
TIME
five minutes
|
| tokenized deposits are One path to do |
5.4 |
Jump to 1981.98 |
CARDINAL
One
|
| that today Bank deposits are 73 percent |
5.46 |
Jump to 1984.62 |
DATE
today
PERCENT
73 percent
|
| recognized for five minutes I'm here to |
6.721 |
Jump to 2192.099 |
TIME
five minutes
|
| got a trillion dollars of uncollected |
4.44 |
Jump to 2236.74 |
MONEY
a trillion dollars
|
| three trillion dollars of income every |
6.96 |
Jump to 2243.04 |
MONEY
three trillion dollars
|
| I first got involved in crypto because |
6.359 |
Jump to 2251.26 |
ORDINAL
first
|
| which allows you to go to any one of the |
5.46 |
Jump to 2362.68 |
CARDINAL
one
|
| 50 states and make them your regulator |
5.099 |
Jump to 2365.26 |
CARDINAL
50
|
| so you supposedly have one-to-one |
5.28 |
Jump to 2368.14 |
CARDINAL
one
|
| but you pick your auditor out of any one |
4.14 |
Jump to 2373.42 |
CARDINAL
one
|
| of the 50. |
3.36 |
Jump to 2376.18 |
CARDINAL
50
|
| um they're never worth more than one to |
5.64 |
Jump to 2402.64 |
CARDINAL
more than one
|
| one they can be worth less if uh you |
5.76 |
Jump to 2404.859 |
|
| you can't put conveniently a million |
4.86 |
Jump to 2425.56 |
CARDINAL
million
|
| additional 40 seconds |
4.56 |
Jump to 2458.2 |
TIME
additional 40 seconds
|
| want to add one more thing and as we |
3.299 |
Jump to 2486.04 |
CARDINAL
one
|
| yielding back in less than five minutes |
5.52 |
Jump to 2511.42 |
TIME
less than five minutes
|
| Wisconsin Mr style for five minutes |
3.24 |
Jump to 2516.94 |
GPE
Wisconsin
TIME
five minutes
|
| if I can come to you one of the things I |
4.8 |
Jump to 2524.74 |
|
| think one of one thing that's important |
2.699 |
Jump to 2608.14 |
CARDINAL
one
CARDINAL
one
|
| um I think one feature that is different |
3.06 |
Jump to 2632.98 |
|
| issues five dollars of stable coins is |
3.36 |
Jump to 2638.44 |
MONEY
five dollars
|
| issues five billion dollars worth of |
3.36 |
Jump to 2641.8 |
MONEY
five billion dollars
|
| uh we all know one of the key prongs the |
4.021 |
Jump to 2665.859 |
|
| Mrs waters for five minutes thank you |
6.541 |
Jump to 2805.359 |
TIME
five minutes
|
| one of them would give the Federal |
5.38 |
Jump to 2823.38 |
CARDINAL
one
|
| this is one of the reasons why |
6.42 |
Jump to 2913.48 |
|
| move on one of the most devastating |
4.98 |
Jump to 2950.619 |
CARDINAL
one
|
| aware of that and that's one of the |
4.559 |
Jump to 3091.8 |
CARDINAL
one
|
| five minutes |
2.82 |
Jump to 3104.7 |
TIME
five minutes
|
| the question because from March 10th to |
5.159 |
Jump to 3142.2 |
DATE
March 10th
|
| 12th coinbase made a unilateral decision |
4.26 |
Jump to 3144.66 |
|
| disclose that they had 3.3 billion in |
3.48 |
Jump to 3153.24 |
CARDINAL
3.3 billion
|
| um the second question Mr Homer I don't |
4.079 |
Jump to 3196.02 |
ORDINAL
second
PERSON
Mr Homer
|
| SCC registration those would first have |
4.02 |
Jump to 3255.18 |
ORDINAL
first
|
| to have to comply with Section Five of |
3.24 |
Jump to 3257.28 |
ORG
Section Five
|
| comply with section 12 A1 that would |
4.381 |
Jump to 3272.819 |
PRODUCT
A1
|
| to pull the 3.3 billion out they were |
3.299 |
Jump to 3327.3 |
CARDINAL
3.3 billion
|
| uh yes okay now in the case of svb 3.3 |
7.439 |
Jump to 3332.4 |
CARDINAL
3.3
|
| billion you know in the wasn't going to |
3.361 |
Jump to 3337.559 |
|
| there's a good case for web 3. there's a |
4.44 |
Jump to 3373.26 |
CARDINAL
3
|
| three magic ponies we can do that that's |
3.9 |
Jump to 3392.04 |
CARDINAL
three
|
| and I yield to Mr Green for five minutes |
4.099 |
Jump to 3414 |
PERSON
Mr Green
TIME
five minutes
|
| is one that involves countries |
5.16 |
Jump to 3447.54 |
|
| patience we have two votes on the house |
4.2 |
Jump to 3793.44 |
CARDINAL
two
|
| recognize myself for five minutes |
4.44 |
Jump to 5647.02 |
TIME
five minutes
|
| scenario namely in two ways the first |
5.04 |
Jump to 5681.52 |
CARDINAL
two
ORDINAL
first
|
| uh yes I think that the first notice |
5.52 |
Jump to 5776.199 |
ORDINAL
first
|
| thank you one risk identified in the |
3.661 |
Jump to 5781.719 |
CARDINAL
one
|
| crime issues with stable coins first of |
3.96 |
Jump to 5853.6 |
ORDINAL
first
|
| Congressman it's one of the most |
2.88 |
Jump to 5883.06 |
CARDINAL
one
|
| and rightfully so this risk area is one |
6.239 |
Jump to 5894.94 |
CARDINAL
one
|
| Carolina for five minutes |
4.86 |
Jump to 5930.04 |
GPE
Carolina
TIME
five minutes
|
| decreasing from 66 percent to 58 since |
4.56 |
Jump to 5969.28 |
PERCENT
66 percent
CARDINAL
58
|
| 2015. |
3.239 |
Jump to 5972.46 |
DATE
2015
|
| the dollar is the asset underlying 98 of |
5.94 |
Jump to 5981.34 |
CARDINAL
98
|
| four or five minutes |
3.48 |
Jump to 6145.199 |
TIME
four or five minutes
|
| first of all I want to thank all the |
3.12 |
Jump to 6147.48 |
ORDINAL
first
|
| one concern on stable coins is ensuring |
6.3 |
Jump to 6150.6 |
CARDINAL
one
|
| first it makes it possible for States |
4.321 |
Jump to 6169.619 |
ORDINAL
first
|
| built on this two-tier federal and state |
6.659 |
Jump to 6204 |
CARDINAL
two
|
| this area than just one or two Federal |
4.381 |
Jump to 6226.139 |
CARDINAL
one
CARDINAL
two
|
| under section four backstop by Federal |
4.741 |
Jump to 6299.219 |
|
| thank you for that Mr Homer one of the |
3.48 |
Jump to 6314.28 |
CARDINAL
one
|
| little bit on the two drafts noticed for |
4.859 |
Jump to 6351.36 |
CARDINAL
two
|
| one state issued stable coins must |
4.02 |
Jump to 6379.199 |
CARDINAL
one
|
| registration requirements number two the |
4.92 |
Jump to 6385.08 |
CARDINAL
number two
|
| issuer and number three the Federal |
4.56 |
Jump to 6392.4 |
CARDINAL
number three
|
| sense and this is my number one Focus as |
5.76 |
Jump to 6426.6 |
CARDINAL
one
|
| participate in a true two-tier system |
5.641 |
Jump to 6441.719 |
CARDINAL
two
|
| your chat GPT and I'm a five-year-old |
4.68 |
Jump to 6491.88 |
ORG
GPT
DATE
five-year-old
|
| reserves should consist of 100 cash or |
4.44 |
Jump to 6578.88 |
CARDINAL
100
|
| self-attestation but also by a third |
3.12 |
Jump to 6591.119 |
ORDINAL
third
|
| one-to-one basis please raise your hand |
4.22 |
Jump to 6599.28 |
CARDINAL
one
CARDINAL
one
|
| the eight seconds you have okay other |
3 |
Jump to 6745.38 |
TIME
the eight seconds
|
| have five legislative days within which |
3.54 |
Jump to 6755.34 |
DATE
five legislative days
|