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Some of that concentration is because it is the large exchanges, the crypto-exchanges, like Coin Base has 20 million accounts.
To some extent it is not surprising, because most small economics ends up with some centralization.
On top of that, rigorously require crypto-exchanges to register, and you may need to pass a law to do that, but to make sure they register and that all the AML, anti-money laundering and know your customer is being done there.
The Bank of China particularly is looking at it very closely because they are worried.
If they had determined that way back in 2015, at the time they would have had to give some full and fair disclosure.
The unregulated underlying crypto-cash market is a mess.
To reach its potential, I feel strongly that for public confidence to reach its potential, we need to bring it inside the world that we know.
This new technology could lower costs and risks in the financial sector.
Blockchain technology, I believe, has a real potential to transform the world of finance because it is about money.
In the first category, the investor type that would be under the SEC.
The CFTC needs to have additional authorities about that underlying what I would call cash crypto-market, it is 70 percent of the market.
This is going to take 2, 3, 4 years before the SEC really cleans up this space, can they go faster, can we do it right, but it is going to take some time.
Trade is really the business of Congress, and Congress has delegated some of that to the Executive Branch.
It is unsustainable to have effectively the U.S. housing finance system on the government's books for the long run.
I think it is very clear that some countries, and China in particular, have less open trading systems than we would like.
I strongly agree with you that trade needs to be fair as well as free.