EXCLUSIVE: Sen. Kirsten Gillibrand on her new crypto proposal and the SEC

“I think the SEC has been trying to regulate through enforcement, and that’s typically very unwise,” Gillibrand says.

Listen to Matt Laslo’s raw, uncut exclusive interview with New York Democratic Sen. Kirsten Gillibrand from 7-10-2023.

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Below is a rough transcript of the Gillibrand interview, slightly edited for clarity.

Matt Laslo: How’s that looking? Just, what’s ahead with negotiations?

Kirsten Gillibrand: “It’s an extremely thorough bill that creates a very strong baseline framework for consumer protection, for Know Your Customer, for anti-money laundering. And it will allow for a regulatory framework that not only preserves access to markets in the United States but protects consumers in a way that isn't provided elsewhere.”

ML: “What do you think of what the SEC has been doing? Lummis is complaining about all their actions while they've seen your draft.”

KG: “I think the SEC has been trying to regulate through enforcement, and that’s typically very unwise.”

Matt Laslo is a veteran congressional correspondent and the founder of Ask A Pol—a people-powered press corps. Find him on Twitter @MattLaslo, @Ask_a_Pol, Threads @mattlaslo or Instagram @askpols.

Camila Aponte and Noah Kolenda contributed to this.