Glenn Thompson actually said...

"First off, there is uncertainty surrounding the transition of digital assets from security to commodity, and that that uncertainty injures innovation and market activity in this country."

"we are in need of a spot market regulator in the digital asset space."

"Regulation by enforcement is not an appropriate way to govern a market, adequately protect customers, or promote innovation."

"And we can't skimp with this. This is the biggest challenge facing our financial system, certainly in most of our lifetime here."