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It was an honor to attend the crypto summit at the White House on Friday. The last administration chose to wage a lawfare campaign against good actors while mostly ignoring bad ones. The new administration is pursuing a much smarter approach: providing a clear pathway for entrepreneurs and innovation while ensuring strong consumer protections. The most important development was the president’s announcement that he wants stablecoin and market structure legislation passed by August. Industries are built on solid foundations, and this is a critical step forward. Transformative technologies like crypto and AI require us to separate their essence from specific uses and misuses. A hammer can build a home or demolish one; the question is how we maximize the good while minimizing the bad. Reactive approaches—like lawsuits and piecemeal rulemaking—create uncertainty and fragmentation. The internet flourished because of forward-thinking legislation like the 1996 Telecommunications Act, which created a cohesive national framework. Today, we’re at a similar crossroads. With accelerating progress in crypto, AI, and other frontier domains, this is the time to craft thoughtful, comprehensive policies that acknowledge both the promise and risks of these technologies. I’m very encouraged by the bipartisan momentum and the administration’s commitment to ensuring the U.S. leads the way in this new era of innovation.