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As I told @MariaBartiromo last week, U.S. financial markets are poised to move on-chain. Under my leadership, @SECGov is prioritizing innovation and embracing new technologies to enable this on-chain future, while continuing to protect investors.

Two regulatory developments this week are indicative of how regulators are driving the convergence of tradfi and crypto worlds. @CFTC and @CarolineDPham announced a pilot to permit certain crypt assets to be used as collateral in derivative markets, while the @USOCC and

Day Two of the @BlockchainAssn Summit. Lots of great convos including one I was honored to moderate with @SenBooker and @Sen_Alsobrooks, who both spoke about how blockchain/DLT can increase financial access for vulnerable populations. We covered lots of ground including market

Yesterday was a great first day of the @BlockchainAssn Summit. Awesome meeting @howardlutnick and hearing about how the @CommerceGov is leading on putting government data onchain. @chainlink was happy to help!

Step 1: Bring U.S. government data onchain with Chainlink. Step 2: Bring all other government data onchain. @howardlutnick at the Chainlink-sponsored Policy Summit Gala on why he will "get all of our numbers put out ... and the rest of the government to use the blockchain."

Thank you to @SenatorHagerty for the work on the GENIUS Act and for collaborating with Chainlink and blockchain industry teams pushing for clarity. Your leadership is what keeps U.S. innovation competitive.

🚨SEC Chair Paul Atkins: 🇺🇸“All U.S. markets will be on chain within two years.”

Absolute pleasure to see this come together and to have the honor of working with the great folks at @base to secure their bridge with them!

8/ Bottom line: DC isn’t debating whether crypto survives — it’s deciding who gets to own the critical infrastructure layer. If you’re building, build for supervised rails, not regulatory wishes and hopes. The winners will be compliance-native, settlement-native, and structurally

7/ The next 12 months will be defined by: • Custody consolidation under bank-grade rules • Tokenization pilots moving into “normal” clearing/settlement activities • Market structure bills that decides who wins and loses in the next decade • Agencies carving out “functional”

6/ The political calculus: Stablecoin clarity earned bipartisan support, but the real pressure is coming from traditional rails. This makes sense as crypto/DLT/tradfi convergence continues and who “wins” is only starting to come into focus and spilling out into the public view

5/ Meanwhile, @CFTC is positioning for a more formal role over cash/spot markets. Hearings are increasingly about market integrity, FCM-style protections, and ensuring crypto trading looks like commodities trading — not shadow venues.

4/ @SECGov is signaling a shift: tailored disclosure paths, more explicit treatment of tokenized assets, and a future where “come in and register” actually has a translation layer. Not a free pass — but not the 2022 playbook either.

3/ Market structure is the oxygen. The Hill is actively sketching a regime where spot digital-asset markets sit with @CFTC, while tokenized securities and anything with an “issuer” footprint remain with @SECGov. That’s not just jurisdiction — it’s a roadmap for industry.

2/ The real story: Congress found bipartisan footing on stablecoin rules, but everything else in digital assets is converging on one core fight: who regulates the plumbing. Payments, custody, settlement, and markets all sit in that crossfire.

1/ Where DC really is on crypto policy (and why market structure is the entire ballgame now). 🧵

Big vote later today in Senate Ag to move @MikeSeligEsq forward to the Senate floor to be Chairman of the @CFTC. He is exceptionally qualified and hope to see a strong vote in his favor.

The OCC issued an important & groundbreaking interpretive letter yesterday (1186) spelling out how how national banks could interact with public blockchains. Most of the media coverage around it has focused on the part which says banks are allowed to hold crypto on their balance

Capital charges for crypto assets have been one of the biggest blockers for broader adoption and has been a bit under the radar given the focus on so many other policy matters. Make no mistake though, the comments from the Basel Chair are remarkable!