Pat Toomey, U.S. Senator for Pennsylvania, talks about legislation in the crypto industry, how to determine if something is a security, the future of CBDCs, and much more.    Show highlights: the structural differences between crypto tokens and securities why Sen. Toomey is demanding crypto legislation why “regulation by enforcement” does not provide clarity how to determine if a token is decentralized whether proof of stake consensus turns tokens into securities Sen. Toomey’s take on the new framework for stablecoin regulation whether it is appropriate to ban algorithmic stablecoins the importance to make disclosures so that regular users understand the risks of crypto how the collapse of Terra and other crypto companies like Voyager and Celsius affected lawmakers’ perception of crypto whether the US Treasury made a mistake with the Tornado Cash sanctions what the government should take into account in regards to a central bank digital currency (CBDC) why he believes the White House reports on crypto are not helpful and whether entrepreneurial talent is migrating to other countries the likelihood of any of the crypto bills passing soon Thank you to our sponsors!   1inch Crypto.com Messari Sen. Toomey Twitter    Previous Coverage of Unchained on regulation:   Congressman Ro Khanna: How to Get More Democrats into Web3 The Legal and Regulatory Fallout From Terra’s Collapse: Who Will Pay? Why the Crypto Industry Believes SEC Regulation by Enforcement Hurts US Consumers   SEC Views Gary Gensler’s comments on PoS tokens Sen. Toomey’s opinion   White House Reports   Stablecoins Stablecoin Draft Bill