Thank you, Chair, and thank you to the witnesses for appearing before the committee.
My first question is a general one, I think everyone would agree. Do you agree that a lack of regulation creates a risky environment?
Ms. Woods, there are fears that a lack of regulatory oversight will lead to scams and market manipulation. Among the high-profile cases is OneCoin, which was revealed as a Ponzi scheme. People felt like they were getting in because they didn't want to miss out on the next Bitcoin. Do you agree that a lack of regulation creates a risky environment?