Anthony Gonzalez: “I want to start by basically trying to think through how efficiently we are managing our dollar.”

I think it is a horrible rule. I would love to see bipartisan support around coming up with something more sensible.

And I think relationship banking only has proven throughout our entire history to have enormous problems.

Quality of reserves, liquidity, transparency, redemption rights, these are the sorts of things we should be talking about when we are talking about well-regulated stablecoins.

If we have liquidity challenges, if the depths of our markets all of a sudden are impaired, the ability of the financial system to respond to large shocks is severely diminished.