Faryar Shirzad, chief policy officer at Coinbase, said that as the "hard ice" between regulators begins to melt, interaction with the Federal Reserve is increasing. The Fed is designed so that it does not always respond to changes in government, but the vacancy of the vice chair position of regulation and key changes in the leadership of other banking regulators should help bring about a new approach. All of this requires a lot of work - on the elimination of banking services (debanking), payment innovation, capital treatment of crypto assets, the agenda of the Basel Committee, and more. We are happy that the conversation has become more constructive, but much more needs to be done to align the Fed with the president and a bipartisan majority in Congress in ensuring that the United States becomes a world leader in digital asset innovation.