'There's More Transparency' in Crypto Than TradFi: Former Arkansas Gov. Hutchinson

Consumer confidence is absolutely essential as you know, and to do that, the public needs to understand uh one of the nature of the industry, how it works, how they can profit from it, how they can invest in it. Greater understanding is important and that builds confidence. And then secondly, they need to be assured that this is going to be not a tool that can be used by terrorists or by criminal organizations. And we know uh in the industry that there's more transparency actually in the crypto market than there is in bank traditional financing. Uh And so because of that transparency, it is actually a less attractive venue for terrorists or criminal organizations to participate in that message needs to get out. And then I assure you as somebody that's been uh under Secretary of Homeland Security, I've been head of the DEA I've been in the United States Congress. Uh I've been in the private sector. And so, you know, I understand uh that you've got to have rules that are certain and that you do not, you'd much rather have self-regulation and guidance versus government. Now, the government's gonna have to step in to clarify the rules. But we all need to feel the same responsibility to make sure that we're good actors that we are following the rules that are set and that we are building consumer confidence by making sure the crypto marketplace is not something that criminals have access to that. We have good reporting requirements, uh that suspicious transaction requirements that are in place.