Dave McCormick: “By creating a standards body like FINRA that has the…”

“These are actors that want to innovate. They have, they have good motivations, they may have different competitive landscapes and that they can play a significant role in self regulating themselves. And By creating a standards body like FINRA that has the expertise that's in the day to day, by creating enough transparency without compromising competitive advantage that they're going to stumble on, not stumble on, but find their way to a set of standards that would be protective but not overly prescriptive in terms of slowing down innovation. And if they could do that in partnership with the government, I think that if you thought about a regulatory framework over time, it seems to me that that would be a first meaningful step.” (35:06–35:29)

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