Brian Quintenz is the Global Head of Policy at a16z crypto and a former commissioner at the U.S. Commodity Futures Trading Commission.In this episode, Quintenz explains how the SEC's failure to issue updated guidance for the crypto industry has created a legislative opportunity for clarity.According to Quintenz, "Congress needs to show the way by creating the framework that the SEC is refusing to contemplate."Outline:0:36 Policy & regulation overview2:43 Securities v. commodities06:37 Registered securities11:58 Special Purpose Broker-Dealers14:49 a16z’s policy uutlook18:34 Ponzi schemes21:31 CeFi regulation27:16 Lummis x Gillibrand’s crypto bill30:30 Token decentralization32:32 Legislative hurdles