Video & Transcript : 'Treasury Department' :
Page 10 of 500
US
US Federal 2025-2026 Regular Session
Hearings to examine the nominations of Andrew Hughes, of Texas, to be Deputy Secretary, David Woll, of Virginia, to be General Counsel, both of the Department of Housing and Urban Development, Michelle Bowman, of Kansas, to be Vice Chairman for Super Apr 10th, 2025 at 09:10 am
Banking, Housing, and Urban Affairs Committee
Transcript Highlights:
- Probably better handled by Treasury Department. All right, that's fair.
- Our colleagues at the State Department have very important tools.
- And just yesterday, Secretary Besant of the Treasury Department said the Treasury Department plans to
- department with a say in the substance of those rules?
- Hurley, you'll be in charge of sanctions implementation, if confirmed, over at the Treasury Department
Keywords:
legislation, housing affordability, financial regulation, public testimony, accountability, oversight
Summary:
The meeting involved significant discussions around key legislative proposals, primarily focusing on various bills such as HB2 and SB5. The committee examined the implications of these bills on issues like housing affordability and financial regulation. Notable members engaged in debates, providing differing perspectives on the potential economic impacts of the proposed bills. The meeting witnessed public testimony, which included a call for accountability in government actions and oversight of current financial policies. Members echoed concerns about following through on commitments to address critical issues affecting everyday Americans.
MN
Minnesota 2025-2026 Regular Session
House Fraud Prevention and State Agency Oversight Policy Committee 3/23/26
Fraud Prevention and State Agency Oversight Policy
Transcript Highlights:
- There's a lot of Department of Treasury.
- of Treasury into also put the Department of Treasury into action. action. action.
- </c> and not with the Department of Treasury. and not with the Department of Treasury.
- </c><01:25:48.800><c> Department</c> something that the Treasury Department something that the Treasury
- <01:33:20.680><c> Treasury,</c> to the Department of Treasury, to the Department of Treasury, I<01:33
ID
Transcript Highlights:
- As you know, the Treasury stopped minting the penny back in November of last year.
- I did investigate it two years ago and found out it was about the same as treasury bills.
- bills versus... ...which shows the cost of a $100 million investment in treasury bills versus a $100
- That would probably be the Department of Finance. That would probably be the Department of Finance.
- All of the guidelines that the Department of Finance has laid out. Don't see any other questions.
Committee:
Senate State Affairs
HI
Transcript Highlights:
- Gary Suganuma, Department of Taxation, testified that the department will stand on its written comments
- Up next, we have Ian Robertson, Department of the Attorney General. Good morning.
- The office suggested amendments to clarify which department is intended. Thank you.
- Director Salivaria, Department of Budget and Finance, testified in person.
- Her comments are really just whether Budget and Finance is the most appropriate department to handle
Committee:
House Culture & Arts
Summary:
The Committee on Culture and the Arts heard testimony on HB 547 HD1, which would create a spay-neuter special fund to reduce pet overpopulation and support spay/neuter services, funded in part through a tax return check-off and other sources. The Department of Taxation said it could implement the check-off; the Attorney General and Budget and Finance raised drafting and placement concerns about which department should house the fund; and the Hawaii Humane Society strongly supported the bill, emphasizing statewide need and the importance of distributing funds to areas of greatest need, including neighbor islands. The Tax Foundation opposed the measure on special-fund grounds, arguing there was no sufficient nexus between the bill’s purpose and the proposed revenue source. The committee later recommended HB 547 HD1 with technical amendments and sent it to Finance, with members voting aye and no objections noted.
The committee also heard HB 925 HD1, relating to arts funding, which would impose a 1% fee on ticket sales from concerts at state venues and direct the proceeds to a dedicated arts fund. The State Foundation on Culture and the Arts supported the measure, while the Attorney General suggested defining “concerts” for clarity and Budget and Finance was available with comments. In discussion, the committee chair asked about how other states fund arts programs, and Director Ewald said many states use dedicated funding sources such as concert fees, bond funding, cultural trusts, and hotel lodging taxes. The committee recommended HB 925 HD1 with amendments, including a preamble, a new Performing Arts special fund, a definition of “concerts,” and a defective date, and the recommendation was adopted.
Finally, the committee considered HB 1378, also related to the State Foundation on Culture and the Arts. Based on the Attorney General’s testimony, the committee proposed deleting a section of the bill, creating a Performing Arts special fund, specifying revenue sources such as legislative appropriations, foundation charges, grants, gifts, and interest, and using the fund for coordination, planning, promotion, marketing, and execution of performing arts events. The amendments also added a definition of Performing Arts, granting standards, and a defective date, while blanking out the appropriation amount for the committee report. The committee voted to adopt the recommendation on HB 1378 with amendments, and the meeting adjourned.
MN
Minnesota 2025-2026 Regular Session
Press Conference: DFL Media Availability on Threat to Dismantle the US Department of Education Feb 5th, 2025
Transcript Highlights:
- of Treasury, that is the data of every single American who has their data at the Department of Treasury
- is</c><00:14:48.279><c> the</c> the Department of Treasury that is the the Department of Treasury that
- </c><00:14:52.079><c> of</c><00:14:52.199><c> Treasury</c> their data at the Department of Treasury their
- data at the Department of Treasury spoiler<00:14:53.079><c> alert</c><00:14:53.360><c> it's</c><00:14
- /c><00:21:56.679><c> Education</c> Department of US Department of Education Department of US Department
NM
New Mexico 2025 Regular Session
IC - Investments and Pensions Oversight Sep 12th, 2025
Investments & Pensions Oversight Committee
Transcript Highlights:
- Based on the 10-year Treasury or other places on the Treasury curve, getting to know and following the
- Treasuries.
- The 10-year Treasury yield is about 4.08% today.
- Do the volunteer departments compete with the paid departments for the facilities? No, they do not.
- Most volunteer departments in the state have their own department.
US
US Federal 2025-2026 Regular Session
US House Floor Proceedings (Tuesday, February 11, 2025)
US Federal House Floor Meeting
Transcript Highlights:
- </c> the scope of what happened the treasury the scope of what happened the treasury Department<04:20
- Department of Treasury and Elon Musk and Department of Treasury and Elon Musk and Donald<04:37:04.480
- </c> coming in taking over the treasury coming in taking over the treasury Department<04:54:06.240><c
- </c> Trump trust a trump Leed Treasury Trump trust a trump Leed Treasury Department<05:04:48.840><c>
- Speaker, about what is happening at the Treasury Department.
Keywords:
committee membership, House of Representatives, government structure, ethics, political appointments, concurrent resolution, President communication, Congress assembly, meeting date, government procedure, joint session, Congress, President's address, H.Res. 122, HR122, H.R. 77, midnight rules, Congressional Review Act, CRA, resolution of disapproval
NH
New Hampshire 2025 Regular Session
Commission to Study Stable Tokens (12/10/2025)
Transcript Highlights:
- Treasury, Commerce, and then especially with state treasuries.
- Treasuries, up from 20 last year. That's $150 billion in Treasuries.
- There are some cash treasuries.
- </c> treasury level. Uh next slide please. treasury level. Uh next slide please.
- </c> for the banking department. for the banking department.
Summary:
The commission met with a quorum, approved the agenda, and approved the November 12 minutes after a motion, second, and unanimous voice/online consent. The chair said the meeting would include two presentations—one from Noah Herman of Fortress Global and one from John Kicko and team from Hedera—followed by discussion of the commission’s next steps and public comment. The chair also noted he was still seeking a clerk for note-taking.
Herman’s presentation focused on stablecoins, blockchain use cases, and operational considerations for states and other institutions. He described Fortress as an enterprise crypto-wallet and treasury platform serving corporates, governments, and nonprofits, and used examples such as Save the Children and a large global commodities firm to illustrate custody and treasury management on blockchain rails. He said stablecoins are designed to maintain a U.S. dollar peg, are increasingly backed by treasuries and subject to greater transparency, and are being adopted by major firms and payment companies because they can improve speed, reduce cost, and simplify payments. He also highlighted market growth, including claims that stablecoins now represent a significant share of on-chain activity and are a major holder of U.S. Treasuries.
He identified custody as a key issue for state and institutional use, outlining qualified custody, managed custody, and self-custody models. He said the main practical challenge for the commodities client was moving funds safely and quickly across global time zones and that blockchain rails could solve problems that traditional banking rails could not. He framed the broader trend as one of accelerating institutional adoption, citing recent acquisitions and product launches by Visa, Stripe, Citi, and PayPal as evidence that stablecoin infrastructure is becoming mainstream.
OK
Oklahoma 2026 Regular Session
Appropriations and Budget General Government Subcommittee 2nd Revision: Agenda Revised: 10:30 a.m. Ethics Commission
A&B General Government Subcommittee
Transcript Highlights:
- They can volunteer for those functions, maybe with the local fire department or even a rural fire department
- That to the debt management department in the treasury, and we see what they're paying.
- That's what I run the treasury office on.
- Is that just in the treasury?
- No, it's just in the treasury.
Committee:
House A&B General Government Subcommittee
US
US Federal 2025-2026 Regular Session
US House Floor Proceedings (Monday, February 10, 2025)
US Federal House Floor Meeting
Transcript Highlights:
- </c><04:23:07.040><c> of</c><04:23:07.199><c> Treasury</c> basket until the Department of Treasury basket
- </c><04:24:33.560><c> Department</c> will note that the treasury Department will note that the treasury
- </c> this bill would empower the treasury this bill would empower the treasury Department<04:29:55.920
- </c><04:33:36.480><c> Department</c><04:33:36.879><c> has</c> institutions the treasury Department has
- Department to communicate the treasury Department to communicate those<05:06:33.600><c> requirements
Keywords:
diaper need, infant health, family well-being, basic needs, public health, childcare, September 11, terrorist attacks, education, curriculum, first responders, national security, temporary protected status, Haiti, immigration, refugees, quorum, House of Representatives, business proceeding, legislative procedure
KY
Kentucky 2025 Regular Session
House Standing Committee BR Sub. on General Government (2-13-25)
Transcript Highlights:
- </c><00:02:59.840><c> Department</c><00:03:00.040><c> of</c> was the department Department of was the
- department Department of Juvenile<00:03:00.480><c> Justice</c><00:03:00.959><c> per</c><00:03:01.319
- </c><00:03:54.599><c> to</c> can point to for for fire departments to can point to for for fire departments
- </c> unwavering dedication the treasury unwavering dedication the treasury stands<00:24:03.360><c> ready
- </c><00:35:04.520><c> of</c> exploitation the AG's Department of exploitation the AG's Department of
Summary:
The Budget Review Subcommittee on General Government met for its first meeting and heard budget-related presentations from the Auditor of Public Accounts and the Secretary of State, with the Treasurer beginning a presentation at the end of the transcript. Auditor Allison Ball reviewed her office’s 2024 and early 2025 work, including hundreds of county and state audits, several special examinations, and ongoing reviews such as the kinship care funding issue, the Kentucky Department of Education audit, and the Jefferson County Public Schools audit. She said her office is focused on waste, fraud, abuse, and legal compliance, and asked the committee to consider future budget changes, including aligning her appropriation with restricted funding and restoring a stronger performance-audit function. She also highlighted audits that exposed serious problems, including the Department of Juvenile Justice review, and said those reports are intended to serve as models for other entities to avoid similar failures.
Secretary of State Michael Adams said his office is self-sustaining through fees and does not need tax dollars, but asked for greater access to its own revenues and more flexibility in using them. He highlighted the Safe at Home address confidentiality program, saying recent changes expanded protections for survivors of domestic violence, sexual assault, and human trafficking, and that the program has grown rapidly while remaining funded by offender fines. Adams also urged lawmakers to again adjust county election funding for inflation, noting the current per-voter and per-precinct amounts were set decades ago. In questioning, Representative Hart asked whether the Safe at Home program was self-funding; Adams replied that it covers only about 10% of its operating cost and said the best solution would be to let the office use more of the revenue it already collects rather than rely on tax dollars.
Treasurer Martin Medcafe, introduced with staff member Russell Weber, praised the General Assembly’s fiscal discipline and described the Treasury’s work in managing state funds. He reported strong results from the Unclaimed Property Fund, saying the office returned $35.5 million to Kentuckians in its first year and $3.8 million in the first month of the current year, and said the State Investments Commission generated $682 million in returns last year. He also highlighted financial literacy efforts through the Kentucky Financial Empowerment Commission and said the Treasury is helping manage opioid settlement funds, which are now earning up to $200,000 per month through investment. No votes or formal actions were taken in the portion of the meeting provided.
OK
Oklahoma 2026 Regular Session
Aeronautics and Transportation Feb 9th, 2026 at 10:00 am
Aeronautics and Transportation
Transcript Highlights:
- He was a first responder in the sense that he was a Springer Volunteer Fire Department member for over
- relating to real ID driver's license, an option for an applicant to donate monies to the Oklahoma Department
- The new language is on page e Just directs the Oklahoma Department of Public Safety to allow them to
- Other funds are directed from the Treasury Department. So, this would be just a volunteer basis.
- of Veterans Affairs, and two, if you're wanting to go to the Department of Veterans Affairs to that
Committee:
Senate Aeronautics and Transportation
Keywords:
memorial designation, interchange, Terry Walker, transportation, Oklahoma, driver license, tracking system, expedited delivery, Service Oklahoma, REAL ID, public safety, apportionment, state revenue, funding, vehicle registration, infrastructure, state roads, bridges, economic development, highway construction
OK
Oklahoma 2026 Regular Session
House of Representatives Second Regular Session of the 60th Legislature Day 52 Afternoon Session May 5th, 2026 at 02:00 pm
Oklahoma House Floor Meeting
Transcript Highlights:
- This bill removes the administration of the US Department of Energy's weatherization assistance program
- from the Department of Commerce to the Department of Human Services.
Bills:
HJR1101 , SB1319 , SB1264 , HB4237 , SB1277 , SB2069 , HB3066 , HB2115 , HB2153 , HB2268 , HB2961 , SB1679 , SB2018 , HB4294 , SB2095 , HB4113 , SB1894 , SB1810 , HB4268 , HB1752 , HB3413 , SB625 , HB3644 , HB3940 , HJR1096 , HJR1100 , HJR1099 , HB2992 , SB1636 , HB4302 , SB1613 , SB1443 , HB1409 , HB1675 , HB1225 , HB1381 , HB4359 , SB1503
Keywords:
Oklahoma Medical Marijuana Authority, OMMA, medical marijuana, cannabis, marijuana regulation, administrative rules, permanent rules, rule approval, joint resolution, legislative oversight, Title 75 Section 308, Oklahoma Administrative Code, OAC 442, patients, caregivers, licensees, dispensaries, growers, processors, SB1319
OK
Oklahoma 2026 Regular Session
House of Representatives Second Regular Session of the 60th Legislature Day 52 Morning Session May 5th, 2026 at 09:30 am
Oklahoma House Floor Meeting
Transcript Highlights:
- He also serves as the associate chief of staff for research at the US Department of Veterans Affairs
- Medical Center and as an adjunct professor in the department of pathology at the University of Oklahoma
- His scientific efforts at OMRF work in tandem with the US Department of Veterans Affairs to examine autoimmune
- implementation implications on what we will do for schools based on their testing scores, how the state department
- The truth is, the health department administers these grant funds and they're going to determine who,
Bills:
HJR1101 , SB1319 , SB1264 , HB4237 , SB1277 , SB2069 , HB3066 , HB2115 , HB2153 , HB2268 , HB2961 , SB1679 , SB2018 , HB4294 , SB2095 , HB4113 , SB1894 , SB1810 , HB4268 , HB1752 , HB3413 , SB625 , HB3644 , HB3940 , HJR1096 , HJR1100 , HJR1099 , HB2992 , SB1636 , HB4302 , SB1613 , SB1443 , HB1409 , HB1675 , HB1225 , HB1381 , HB4359 , SB1503
Keywords:
Oklahoma Medical Marijuana Authority, OMMA, medical marijuana, cannabis, marijuana regulation, administrative rules, permanent rules, rule approval, joint resolution, legislative oversight, Title 75 Section 308, Oklahoma Administrative Code, OAC 442, patients, caregivers, licensees, dispensaries, growers, processors, SB1319
OK
Oklahoma 2026 Regular Session
Joint Committee on Pandemic Relief Funding Revised Apr 15th, 2026
Transcript Highlights:
- What really prompted this meeting today was a direct result of receiving some Treasury guidance where
- But Treasury has given us guidance that all paperwork, all accounting has to be complete by December
- But Treasury has given us guidance that all paperwork, all accounting has to be complete by December
- Then additionally, like if you see the Department of Commerce numbers, there are...
- There were some things specifically with the Department of Commerce.
Summary:
The Joint Committee on Pandemic Relief Funding met for what leaders described as likely its final meeting, with a quorum present from both chambers. Chairs reviewed the ARPA/SLFRF process, noting the large volume of requests received, the need to meet Treasury’s December 31, 2026 paperwork deadline, and the committee’s role in reallocating excess or at-risk funds to projects that can be completed in time. Working groups reported on progress across education/economic development, transportation/rural development, government transformation, and health and human services, with most projects on track but some funds needing to be reclassified or redirected.
The committee approved a series of motions, generally by unanimous or near-unanimous votes, to reclassify excess funds and appropriate interest earnings to existing obligated projects. Actions included reallocations from the Department of Commerce and the Office of Emergency Management, and interest-fund appropriations for wastewater and water infrastructure, Boys & Girls Clubs, the YWCA, the Office of Juvenile Affairs, and the Department of Human Services. Members also authorized the Oklahoma Water Resources Board and the Healthcare Workforce Training Commission to reallocate remaining funds to existing projects.
In the health and human services portion, the committee approved funding for the Oklahoma Healthcare Workforce Training Commission, the OSU Medical Authority’s Human Performance Project and Pharmaceutical Expansion Program, the University Hospitals Trust Authority’s Child Behavioral Health Project, the Oklahoma Department of Mental Health and Substance Abuse Services for Griffin Memorial bed replacement, and the State Department of Health for the Rural Hospital Rebuild Program. Members asked questions about whether funds were going to new or existing projects and about broadband progress, and staff explained that the reallocations were intended to fill gaps in already obligated projects. The meeting ended with closing remarks thanking members and staff for their work and noting the measures would continue through the appropriations process before final action by the full chambers.
AR
Transcript Highlights:
- Department of Corrections.
- ... for the department... for the department... explanation on G1.
- Department of Corrections.
- for the department for the department Senator, has the medical contract for the department increased
- And then the residence cash treasury is moving to the inmate welfare treasury cash and non-tax revenue
Committee:
All JOINT BUDGET COMMITTEE
OK
Oklahoma 2026 Regular Session
Senate Legislative Session Apr 29th, 2026 at 01:30 pm
Oklahoma Senate Floor Meeting
Transcript Highlights:
- President, I have incredible respect for the work of the Oklahoma Department of Veteran Affairs.
- department to implement a donation feature on their payment forms.
- This amendment came by way of the legal department of the OMMA.
- The fire department arrives.
- We underfund the department of mental health in this state.
Bills:
HB2268 , HB3000 , HB3043 , HB3066 , HB3078 , HB3143 , HB3144 , HB3244 , HB3298 , HB3320 , HB3467 , HB3321 , HB3329 , HB3431 , HB3464 , HB3499 , HB3500 , HB3586 , HB3590 , HB3650 , HB3671 , HB3695 , HB3700 , HB3701 , HB3764 , HB3767 , HB3834 , HB3931 , HB3934 , HB3940 , HB3944 , HB3979 , HB3985 , HB4113 , HB4294 , HB4302 , HB4317 , HB4324 , HB4359 , HB4426 , HB4427 , HB4430 , HB4431 , HB4434 , HJR1077 , SR42 , SR35 , HJR1023 , HB1225 , HB1374 , HB1381 , HB1590 , HB1675 , HB2153
Keywords:
HB2268, Oklahoma Health Care Authority, OHCA, appropriation, General Revenue Fund, PACE, Programs of All-Inclusive Care for the Elderly, elderly care, aging Oklahomans, long-term care, Medicaid, health care funding, provider reimbursement, rate increase, low-income seniors, senior services, integrated care, emergency measure, cosmetology, barbering
OK
Oklahoma 2026 Regular Session
Senate Legislative Session Apr 29th, 2026 at 09:00 am
Oklahoma Senate Floor Meeting
Transcript Highlights:
- Samuel Albach to the Oklahoma Department of Libraries. Senator Reinhart, Mr.
- Mary Westman of the Oklahoma Department of Libraries. Senator Standridge, Mr.
Bills:
HB2268 , HB3000 , HB3043 , HB3066 , HB3078 , HB3143 , HB3144 , HB3244 , HB3298 , HB3320 , HB3467 , HB3321 , HB3329 , HB3431 , HB3464 , HB3499 , HB3500 , HB3586 , HB3590 , HB3650 , HB3671 , HB3695 , HB3700 , HB3701 , HB3764 , HB3767 , HB3834 , HB3931 , HB3934 , HB3940 , HB3944 , HB3979 , HB3985 , HB4113 , HB4294 , HB4302 , HB4317 , HB4324 , HB4359 , HB4426 , HB4427 , HB4430 , HB4431 , HB4434 , HJR1077 , SR42 , SR35 , HJR1023 , HB1225 , HB1374 , HB1381 , HB1590 , HB1675 , HB2153
Keywords:
HB2268, Oklahoma Health Care Authority, OHCA, appropriation, General Revenue Fund, PACE, Programs of All-Inclusive Care for the Elderly, elderly care, aging Oklahomans, long-term care, Medicaid, health care funding, provider reimbursement, rate increase, low-income seniors, senior services, integrated care, emergency measure, cosmetology, barbering
US
US Federal 2025-2026 Regular Session
US House Floor Proceedings (Tuesday, December 9, 2025)
US Federal House Floor Meeting
Transcript Highlights:
- Police Department, and as a part-time Police Department, and as a part-time sergeant<00:17:49.840><c>
- Independence Police Department is the Independence Police Department is the first<00:30:50.159><c> in
- 30:53.760><c> mental</c> department focuses on fitness, mental department focuses on fitness, mental
- Army and the Department of Defense.
- And while she worked mailing department.
Bills:
HR432 , HR312 , HR311 , HR310 , HR309 , HR308 , HB1676 , SB356 , HR1372 , HB2175 , HB1461 , HB2466 , SB2283 , HB1830 , HR1009 , HR1008 , HR323 , HB5131 , HB4503 , HR573 , HB2916 , HB2306 , HB2290 , HB2389 , HB2388 , HB3857 , HB2293 , HR655 , HB4285 , HR1276 , HB2302
Keywords:
federal labor relations, executive order, labor management, federal oversight, government reform, wildlife conservation, Pittman-Robertson, state plans, environment, approval process, Secretary of the Interior, Secure Rural Schools, reauthorization, federal land payments, county payments, state payments, payments in lieu of taxes, PILT, rural counties, forest counties
NH
New Hampshire 2025 Regular Session
Commission to Study Stable Tokens (11/12/2025)
Transcript Highlights:
- Department of Treasury.
- It doesn't apply to things like algorithmic stable coins, which there is a Department of Treasury study
- </c><01:55:09.679><c> of</c><01:55:09.920><c> Treasury</c> which there is a Department of Treasury which
- We just submitted a letter to the Department of Treasury at the Digital Chamber on what that entails.
- of Treasury at the letter to Department of Treasury at the digital<01:57:00.320><c> chamber</c><01:57
Summary:
The commission met on November 12 and first approved the September 17 and October 15 draft minutes unanimously after brief discussion. Members also identified themselves for the record, including a new member from Bumpsk Bank, a staff attorney from the Secretary of State’s Bureau of Securities Regulation, a prior crypto commission participant, and a uniform law commissioner involved in tokenization projects.
The main presentation was by UNH law professor Seth Orinberg, who discussed the federal GENIUS Act and the pending Clarity Act and how they affect New Hampshire’s options in the digital asset space. He described the GENIUS Act as governing payment stablecoins/stable tokens, defining them as blockchain-based assets used primarily for payments, redeemable for a fixed amount of national currency, and required to maintain stable value. He said the law creates three possible state roles: hosting federally qualified issuers, becoming a state qualifier for issuers up to a $10 billion threshold, or exploring state-backed issuance as a sovereign. He noted that the state-qualification path would require conforming legislation, examination capacity, and coordination with Treasury, while the sovereign-issuer theory is legally uncertain and may become a test case.
Orinberg also outlined the core compliance framework he said applies to covered issuers: 100% reserve backing in high-quality liquid assets, monthly public reserve reporting, no yield or interest-like rewards, segregation of reserve assets, immediate redemption at face value, and anti-money-laundering/know-your-customer obligations. He then turned to the Clarity Act, describing it as a broader market-structure bill that would create categories such as digital asset, digital commodity, digital security, and ancillary asset, with self-certification procedures for issuers. He said the two federal laws together would separate payments from investments, preempt inconsistent state standards for covered payment stablecoins, and likely reshape the boundaries of state authority over digital assets.