Video & Transcript Research : 'commodity council'

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US

US Federal 2025-2026 Regular Session

US House Floor Proceedings (Thursday, July 17, 2025)

US Federal House Floor Meeting

Transcript Highlights:
  • Either securities, commodities, real-world assets.
  • Commodities versus securities, CFTC versus the SEC.
  • <01:24:41.360> Futures Commission and the Commodity Futures Commission and the Commodity Futures
  • <01:33:25.360> markets, chairman of the commodity markets, chairman of the commodity markets
  • From sales of oil to commodities to financial contracts.
CA
Transcript Highlights:
  • Flood board members attend Delta Stewardship Council; they attend the Delta Protection Council; they
  • dollars to make sure that this state remains safe and also remains a place where it has this beautiful commodity
  • and necessary commodity that is water, we are in deep trouble.
  • dollars to make sure that this state remains safe and also remains a place where it has this beautiful commodity
  • and necessary commodity that is water we are in deep trouble and so that was a part of why I was here
Summary: The committee held an informational hearing on flood risk and flood management in California, with opening remarks emphasizing that flooding is a statewide and growing threat due to climate change, including the possibility of extreme losses in a worst-case event. Members noted recent flooding in places such as San Diego, the Tulare Basin, and Pajaro, and framed the hearing as a way to better understand prevention, response, and how to capture excess water for later use. Jeffrey Mount of PPIC gave the main overview, describing California’s high flood exposure, the different flood types the state faces, and the mix of structural and non-structural tools used to manage them. He stressed that levees, dams, bypasses, land-use planning, flood insurance, and emergency response all matter, but that risk is rising because current standards are based on past hydrology rather than future climate conditions. He also warned that flood management is underfunded, that the National Flood Insurance Program is weak, and that federal support is increasingly uncertain. Members asked about groundwater recharge, permitting, NOAA and federal cuts, and which communities are most at risk; Mount said recharge can help but does not eliminate flood risk, and that small Central Valley communities and heavily developed floodplains are especially concerning. State officials Laura Hollander of the Department of Water Resources and Jane Dolan of the Central Valley Flood Protection Board described the state’s role in forecasting, emergency response, grants, planning, and the Central Valley Flood Protection Plan. They highlighted aging infrastructure, the need for better coordination, and the state’s special liability in the Central Valley after the Paterno decision. Dolan reviewed the history of major floods and said the plan calls for about $1 billion per year over 30 years to meet current needs, while Hollander said the state works with local and federal partners on preparedness, response, and subventions projects. Both emphasized that floodplain planning, regional coordination, and faster permitting are important, but that more consistent funding is needed. A later panel from local flood agencies and districts reinforced those points, arguing that the state’s annual flood funding is below identified needs and that a proposed statewide flood and dam safety bond was reduced substantially in the broader climate bond package. Witnesses urged more routine maintenance funding, support for regional flood planning, and continued federal-state-local partnerships to reduce risk and maintain eligibility for federal assistance. No formal votes or legislative actions were taken during the informational hearing.
US

US Federal 2025-2026 Regular Session

Hearings to examine bipartisan legislative frameworks for digital assets. Feb 26th, 2025 at 01:30 pm

Senate Banking, Housing, and Urban Affairs Subcommittee on Digital Assets

Transcript Highlights:
  • Cohen is a learned lawyer and an expert with respect to differentiating between a security and a commodity
  • He was chair of the Commodity Futures Trading Commission from 2014 to 2017 and is a research fellow.
  • And how Congress should appropriately draw the line between securities, commodities, and anything else
  • You know, it was in 2014 that the CFTC, under my leadership, declared Bitcoin a commodity.
  • . commodities-like, and are treated in a similar way to Bitcoin and Ether.
Summary: The inaugural meeting of the Digital Assets Subcommittee brought a wave of excitement and anticipation regarding the future of digital assets, including Bitcoin and stablecoins. Chair Lummis expressed gratitude towards Senator Scott for establishing the subcommittee, indicating a commitment to promote responsible innovation while safeguarding consumers. Members discussed the necessity for a bipartisan legislative framework to regulate digital asset markets effectively while outlining the potential benefits such legislation could have on enhancing financial inclusion and streamlining payments. The meeting featured expert testimonies from key figures in the digital asset industry, highlighting the importance of creating clear regulatory guidance for digital assets to foster innovation without compromising consumer protections.
CA
Transcript Highlights:
  • You go back to higher interest rates, commodity prices... products.
  • higher interest rates, commodity prices down, some input costs increasing.
  • And yet commodity prices are average or below average for most of our commodities.
  • We've seen a lot of our commodities in the last five years at historic lows.
  • So California ag is 42, 43 percent of our ag commodities that are produced here are exported.
Summary: The joint informational hearing of the Assembly Committees on Economic Development, Growth, and Household Impact and Agriculture, held at Fresno State, focused on cost pressures in California’s food system, household affordability, and the Central Valley’s role in agriculture. Opening remarks emphasized Fresno State’s regional importance, the Central Valley’s outsized contribution to food production, and the connection between agricultural health, food security, and the broader economy. Members also noted the impact of the federal shutdown on CalFresh benefits and the state’s efforts to respond with food assistance funding and National Guard support for food banks. The first panel featured academic and policy experts who described agriculture’s economic importance in the San Joaquin Valley and the rising pressures on farms and households. Dr. Conduro highlighted agriculture’s large share of regional GDP, farm receipts, jobs, exports, and food manufacturing, while identifying water scarcity, SGMA-related land fallowing, labor shortages and rising labor costs, market volatility, invasive pests, and production cost inflation as major barriers. Caroline Danielson of PPIC said food prices remain about 30% above 2019 levels, food insecurity affects about 1.8 million California households, and nutrition programs such as CalFresh, WIC, and school meals are essential in reducing poverty, especially in the Central Valley. Susie Pryor of the Central California Small Business Development Center described technical assistance, capital access, and training for small food and farm businesses, while warning that reduced funding limits support for rural and immigrant entrepreneurs. The second panel brought testimony from a small produce business owner, a food entrepreneur, and the Fresno County Farm Bureau. They said input costs for fertilizer, fuel, irrigation, labor, land leases, and compliance have risen sharply while commodity prices have remained flat or fallen, squeezing small farms and food businesses. Panelists stressed the need for small-batch processing facilities, local supply chains, education on food manufacturing compliance, land access for small farmers, and more pathways into agriculture through trade programs, community colleges, and FFA. Ryan Jacobson said California agriculture is facing a prolonged downturn, with farm bankruptcies, weak commodity prices, export-market uncertainty, water reliability problems, and costly ag-burning rules all contributing to financial strain. No formal votes or legislative actions were taken; the hearing was informational and concluded with discussion of possible policy solutions and continued engagement with stakeholders.
FL

Florida 2026 Regular Session

Agriculture Oct 7th, 2025

Agriculture

Transcript Highlights:
  • Those applicants are in various commodities, not just silviculture and cattle, but also all of the other
  • major commodities that are represented in our BMP manuals.
  • submitted to DEP's Division of State Lands and then presented to the Acquisition and Restoration Council
Summary: The Senate Committee on Agriculture convened with a quorum and heard presentations focused on land conservation and agricultural preservation in Florida. The Department of Agriculture and Consumer Services briefed the committee on the Rural and Family Lands Protection Program, explaining that it protects active agricultural lands through permanent conservation easements while keeping land in private ownership and on the tax rolls. The presentation emphasized eligibility for greenbelted active agricultural operations, required best management practices, and the program’s role in protecting food supply, water resources, habitat, and military buffering. Officials said the program’s 2025 ranked list includes 428 projects, with about 75 projects expected to start this year, and noted strong partnership funding from federal, local, and conservation partners. Committee members asked about eligibility, annual re-ranking, local government involvement, and the number of projects likely to receive funding. Tracy Dean of Conservation Florida testified in support of continued and increased funding for land conservation, arguing that Florida is losing agricultural and natural lands and that conservation easements and fee-simple acquisitions are complementary tools. She said land trusts work with willing landowners to protect ranches, wetlands, forests, and wildlife corridors, and stressed the importance of maintaining momentum so projects do not stall as land values rise. In discussion with senators, she said public access to conserved lands depends on the specific deal and the landowner’s goals, and that access is more commonly provided through lands acquired for parks, forests, and other public green space. The Department of Environmental Protection then updated the committee on the Florida Forever program. DEP said the program uses both conservation easements and fee-simple acquisitions, with about half of acquisitions done through easements, and that it provides benefits including water quality, habitat protection, recreation, and military readiness. Officials reported 60 projects on the 2025-26 work plan, most in the Florida Wildlife Corridor, and said the state has invested more than $1.4 billion since 2019, acquiring over 374,000 acres. They highlighted recent acquisitions for Sandy Creek State Forest, Catfish Creek Preserve State Park, and a new state park in Walton County, as well as the program’s 200th conservation easement. The committee also discussed funding levels, payment in lieu of taxes impacts on small counties, and broader priorities such as citrus, roads, and support for agriculture; no votes were taken, and the meeting ended with adjournment.
CA

California 2025-2026 Regular Session

Assembly Floor Session Apr 1st, 2025

California House Floor Meeting

Transcript Highlights:
  • Oftentimes, actually when I was on the Rockland City Council, we started a process in which our city
  • If the rightful owner has not come forward to claim the commodities, it is either sold or donated typically
  • And with the rise of digital tools like social media and online bulletins, commodity owners can now be
Keywords: 988, house, all
AR

Arkansas 2026 1st Special Session

ALC-PEER Jan 13th, 2026

ALC-PEER

Transcript Highlights:
  • I call the Peer Subcommittee of Council to order. Chair sees a quorum. We'll begin with item B.
  • I believe it's considered a commodity. Okay.
  • I make a motion asking that this item be deferred to the full Legislative Council meeting this Friday
  • I make a motion asking that this item be deferred to the full legislative council meeting this Friday
  • With that, we've got a motion asking this item be deferred to the full Legislative Council meeting this
Summary: The committee met to consider a series of appropriation, reserve transfer, and grant requests. Early items included temporary appropriations for the Department of Education’s Educational Freedom Account program ($32 million), the State Crime Lab ($476,000), and DFA Assessment Coordination ($90,000), along with a $1 ARPA return from the Department of Health. The committee approved these items after brief questions, including a discussion about contract cost increases at Assessment Coordination and a clarification that the $1 ARPA item was simply an unused-funds return. The most extensive discussion centered on the Department of Education’s EFA funding. Members questioned the growth in participation, the use of one-time funds and restricted reserves, and safeguards against fraud or improper purchases. Agency officials said about 44,000 students were being funded, that purchases are reviewed and flagged for unusual activity, and that homeschool students are not required to buy a curriculum so long as purchases are eligible and approved. The committee approved the EFA appropriation and related reserve transfer, and officials said the governor’s proposed budget would include the program in the RSA going forward. The committee also approved a DHS reallocation request and reviewed a building authority loan for a data center power supply replacement. In the federal grant section, members discussed a Department of Agriculture request for Central Arkansas Water to acquire land in the Maumelle watershed. Debate focused on the environmental benefits versus local property-tax and development concerns in Perry County, with testimony from the agency, Central Arkansas Water, and Potlatch about watershed protection, public access, and potential development impacts. After extended discussion, the committee adopted a motion to defer the item to the full Legislative Council and asked the department to remove the Perry County portion from the request, limiting the grant-funded purchase to Pulaski County property. The committee then reviewed remaining items, including a Veterans Affairs pay-plan appropriation, and adjourned.
NM

New Mexico 2025 Regular Session

Senate - Rules Mar 5th, 2025

Senate Rules

Transcript Highlights:
  • the New Mexico Children's Cabinet and as a member of the New Mexico Public School Capital Outlay Council
  • As Chair of the Council, I've witnessed the informed leadership and guidance she's provided to Council
  • The Llanos Foundation, Think New Mexico, Santa Fe Public Schools, the All Pueblo Council of Governors
  • The New Mexico Food and Ag Policy Council also stands in support of this. Thank you.
  • So you'll have to make it a commodity-driven issue where your prices are ideal. ...is something so they
ND

North Dakota 2026 1st Special Session

Energy Development and Transmission Committee Jun 2nd, 2026

Energy Development and Transmission Committee

Transcript Highlights:
  • I have a response to Senator Kessel that Dakota Resource Council receives a lot of their funding from
  • So, you know, when they call themselves a Dakota Resource Council, maybe it should be the California
  • Resource Council, but that's my opinion.
  • So I think the more we can consume of our natural resources, instead of having it just be a commodity
  • The North Dakota Consensus Council manages that operation.
Summary: The committee met in Grand Forks, approved the February 26 minutes by voice vote, and recessed for a tour of the Mincota Power Cooperative headquarters before returning for presentations on large energy consumers, especially data centers. The first presentations focused on how North Dakota should respond to rapid growth in energy-intensive projects, with speakers emphasizing the need for reliable transmission, local decision-making tools, and factual information for county and township officials who are being asked to weigh major projects with limited staff and technical support. The North Dakota Transmission Authority director said local governments are being asked to make high-impact decisions on pipelines, transmission lines, large agriculture, wind, solar, carbon dioxide pipelines, direct-air capture, and data centers, and urged development of simple statewide decision tools and support from the League of Cities and Association of Counties. The Department of Environmental Quality’s air division director said North Dakota’s air remains among the cleanest in the nation, but large data centers can create air-quality concerns because of diesel backup generation; he said the department is requiring air monitors at some facilities and expects grid power and, potentially, cleaner natural gas backup to reduce emissions. Members asked about emissions standards, misinformation, monitoring costs, and staffing succession at DEQ. The Department of Water Resources director said North Dakota’s water law is based on common ownership and prior appropriation, and that data centers generally use relatively small amounts of water, often in closed-loop systems. He said the Missouri River and groundwater supplies are ample for projected needs, that the department’s permitting process protects senior water rights, and that even a worst-case data center scenario would use a very small share of Missouri River flow. Members asked about downstream impacts and compared data center water use with fracking. Later, McLean County State’s Attorney Ladd Erickson urged the committee to study how other states regulate data centers, warned against litigation-driven delays and overly broad local ordinances, argued reclamation bonding should be handled at the state level if at all, and said data centers can bring jobs and tax base but should remain subject to local zoning. The committee ended the morning session for lunch and later heard an EERC update from CEO Charles Gorecki on the center’s 75 years of work in energy and environmental technologies, especially oil and gas development and related research.
MN

Minnesota 2025 1st Special Session

Committee on Agriculture, Veterans, Broadband and Rural Development - 02/12/25

Agriculture, Veterans, Broadband, and Rural Development

Transcript Highlights:
  • This past year, the city council in Hastings voted to plant Kernza on 80 acres of city-owned land adjacent
  • I also farm 1,500 acres around Chatfield, and I've been on the Chatfield City Council in the area for
  • So the idea, what is break-even for a particular commodity, be it corn, beans, wheat, beef, whatever,
  • <01:23:41.360> be break even for particular commodity be break even for particular commodity
  • We have financial literacy pieces, benchmarking all the way to global economics, commodity marketing,
Keywords: 1187, senate, all
US
Transcript Highlights:
  • and my friendly discussion about potatoes regularly, Idaho's 24,000 farms and ranches produce 185 commodities
  • new markets so that we can move away from China without losing even more global market share to commodities
  • The threat of retaliatory tariffs on Montana commodities like wheat, barley, beet sugar, and pulse crops
  • When we met in Munich for the Munich Security Council with the four-star head of AFRICOM, he said one
  • Trade Representative but the Council on Economic Advisors and others would be looking closely at the
NY

New York 2025-2026 Regular Session

New York State Senate Session - 02/24/2026

New York Senate Floor Meeting

Transcript Highlights:
  • We brought him to a meeting of the City Council where we were working on these things.
  • THE CITY COUNCIL WHERE WE WERE WORKING ON THESE THINGS.
  • I understood that as long as health care is a commodity, those who wipe the bodies of those who are sick
  • I UNDERSTOOD AS LONG AS HEALTHCARE IS A COMMODITY, THOSE WHO WIPE THE BODIES OF THOSE WHO ARE SICK WILL
Keywords: 993, senate, all
Summary: The Senate convened, approved the prior Journal, and began with ceremonial recognitions before moving to legislative business. Members honored the Schenectady Belmont Pop Warner football team for winning the Eastern Regional Championship and being a top-ranked national team, with Senators Parker and Tedisco praising the players, coaches, and volunteers. The chamber then adopted Senate Resolution 1636, mourning the death of Reverend Jesse Louis Jackson and recognizing his lifetime of civil rights, labor, voting rights, and social justice advocacy. Multiple senators spoke in support, reflecting on his influence on politics, the Rainbow/PUSH Coalition, and the message that “I am somebody.” After the resolution, the Senate took up the calendar and passed a series of bills, largely focused on health care, insurance, and public health. These included measures on municipal law, mental hygiene, correction law, executive law, and several insurance and public health bills addressing prescription drug pricing, pharmacy benefit managers, rebates, and anti-competitive drug practices. Senators Myrie, Borrello, Jackson, Fernandez, and others explained votes in support of transparency, patient access, and lowering drug costs; some members noted concerns about pharmacy deserts and corporate consolidation. Most bills passed with broad margins, though a few drew more opposition, including Calendar 304 on anti-competitive drug agreements. On Calendar 289, an amendment concerning domestic violence was ruled non-germane by the chair. Senator Canzoneri-Fitzpatrick appealed, arguing the amendment would create a public registry for persistent domestic violence offenders to help protect potential victims. The Senate voted on the appeal, the ruling of the chair stood, and the bill was then restored to the non-controversial calendar and passed. The Senate then completed the calendar, had no further business, and adjourned until Wednesday, February 25 at 3:00 p.m.
FL

Florida 2025 Regular Session

March 11, 2025 - 08:00 AM

Transcript Highlights:
  • We have roughly 130,000 members in all corners of the state of Florida that grow all kinds of commodities
  • We have roughly 130,000 members in all corners of the state of Florida that grow all kinds of commodities
  • I just want to thank you on behalf of the Florida Developmental Disabilities Council for recognizing
  • Next up, we have Margaret Hooper representing the Florida Developmental Disabilities Council, who waves
Summary: The Health Care Facilities and Systems Subcommittee met with a quorum present and took up five bills. The first, CS/HB 1119 on pediatric readiness in hospital emergency departments, would require hospitals with ERs to adopt evidence-based pediatric care policies, train staff, designate a pediatric emergency care coordinator, complete the National Pediatric Readiness Assessment, and meet minimum equipment and planning standards. Members discussed transport to the closest appropriate facility and implementation concerns, but the bill passed 16-0. The committee then approved HB 677, which would add standard fertility preservation services to the state group insurance program for employees undergoing chemotherapy, and CSHB 497, which would authorize nonprofit agricultural organization medical benefit plans for Florida Farm Bureau members, aimed at improving affordable coverage for farmers and ranchers. HB 677 passed 16-0, and CSHB 497 passed 18-0 after questions about membership, regulation, disclosures, and how the plan would compare with ACA coverage. The subcommittee also approved PCS/HB 791 on surrendered newborn infants, allowing infant safety devices at hospitals, EMS stations, and fire stations as an alternative safe-haven option. Members discussed alarms, unmanned stations, and whether churches should be included; the bill passed 18-0. Finally, HB 1529 on home health aides for medically fragile children was amended and passed 18-0. The bill seeks a federal waiver so compensation for parents serving as home health aides does not count against Medicaid eligibility, and the amendments added reporting of adverse incidents, set work-hour limits, and protected certain other benefits. The chair closed by emphasizing the committee’s role in implementation oversight and fixing problems after enactment.
FL

Florida 2026 Regular Session

Agriculture Mar 25th, 2025

Agriculture

Transcript Highlights:
  • Agriculture nationwide is having a tough time, and in Florida with commodity prices and expenses through
  • Agriculture nationwide is having a tough time, and in Florida with commodity prices and expenses through
  • Lucie County, who is the current Florida 4-H State Council reporter.
  • Lucie County, and I'm currently serving as the Florida 4-H State Council reporter.
  • am the current National 4-H Livestock Ambassador of Florida, the president of the Escambia County Council
Summary: The Committee on Agriculture met with a quorum present and first heard SB 1826 by Senator Martin, which would restrict ultra-processed foods served to public school students during the school day. Senator Martin said the bill is aimed only at government-purchased food in public schools, not parents’ lunches or after-school sales, and argued it is intended to protect children’s health and school performance. Members questioned the bill’s definition of ultra-processed food, its scope during the school day, and possible cost and compliance issues. Senator Rouson offered a friendly amendment extending the compliance date from July 1, 2025 to July 1, 2026, and the committee adopted it. Several industry groups and associations spoke against the bill, citing lack of a clear definition, FDA preemption concerns, costs, and the risk of a state-by-state patchwork; Moms for Liberty waived in support. Senator Martin then temporarily postponed the bill for further work. The committee next took up CS for SB 1132 by Senator Truenow on consumers’ right to repair certain equipment, including agricultural equipment and portable digital devices. An amendment by Senator Boyd was adopted to exclude security and life-safety systems and remove automobile-related provisions. Public testimony included opposition from TechNet, which said the bill is unnecessary because repair parts, tools, and manuals are already available and asked for changes to make the bill prospective and remove the private right of action. Agricultural equipment dealers and manufacturers testified against the bill, arguing that current repair resources and a memorandum of understanding with the Farm Bureau already address repair access, while warning that the bill could undermine dealer margins, parts inventory, training programs, safety, cybersecurity, and emissions compliance. Some members supported the concept but noted the bill still needed work. The committee voted 4-0 to report CS for SB 1132 favorably. The meeting concluded with a presentation from Florida 4-H youth leaders on the organization’s impact and goals. The presenters described 4-H’s role in leadership, agriculture, STEM, and healthy living, highlighted statewide participation and camp programs, and asked for continued support for camp improvements, especially the Camp Cherry Lake revitalization effort. Senators praised the students’ presentations and the value of 4-H before the committee adjourned.
NM

New Mexico 2025 Regular Session

IC - Water and Natural Resources Nov 18th, 2025

Water & Natural Resources Committee

Transcript Highlights:
  • They receive a 30 cents Per meal allocation to spend on subsidized commodity agricultural products is
  • food authorities purchase most of their meat and cheese that subsidize low cost prices through USDA commodity
  • healthcare authority and kind of what's going on with that, there's a lack of local preference. in commodity
  • They know when the beef is fresh, not frozen, commodity grade, and that's what we're investing in that
  • available today in the back room is provided by Farm to Table and the New Mexico Food and Ag Policy Council
MO

Missouri 2026 Regular Session

Special Committee on Rural Issues Jan 14th, 2026

Special Committee on Rural Issues

Transcript Highlights:
  • Lots of commodity groups and organizations... Schools already, you know, done the pilot program.
  • Lots of commodity groups and organizations that many are here today to give testimony in support of this
  • Current elementary teachers in this curriculum, or we'll also see there's a lot of these commodity groups
  • And so that's a very important amendment, since there's so... ...kinds of commodity groups.
  • And so, but anyway, I think it's more and more important that we share where our food and commodities
Keywords: 959, house, all
OK

Oklahoma 2026 Regular Session

Senate Legislative Session Apr 27th, 2026 at 01:30 pm

Oklahoma Senate Floor Meeting

Transcript Highlights:
  • This is a request bill and part of the budget on behalf of the DA's council.
  • What I see this as is setting money aside for pet projects by the DA's council.
  • Jacobow to the Air Quality Advisory Council for a partial term. Senator Coleman, Mr.
  • Jacob Bull to the Air Quality Advisory Council for a full term. Senator Coleman, Mr.
  • Keel II to the Air Quality Advisory Council. Senator Dossett, Mr.
NH
Transcript Highlights:
  • <00:15:22.800> to<00:15:23.040> the and senior regulatory council to the and senior
  • regulatory council to the company<00:15:23.680> including<00:15:24.399> Crypto.com<00:
  • In the meantime, I'm going to say I run research at the Global Blockchain Business Council, which is
  • These could be securities; these could be pools of commodity assets.
  • these could be pools of commodity these could be pools of commodity assets.<02:03:01.599> Um<
Keywords: 1189, house, all
Summary: The Stable Token Study Commission held its first regular meeting, welcomed all remaining appointed members, and completed brief introductions from legislators and agency designees. The chair outlined the commission’s plan to use the first part of the enabling legislation as a “level-setting” discussion, focusing this meeting on the basics of blockchain, the current landscape for stablecoins and tokenized real-world assets, and leaving blockchain-based trust for a later meeting. No votes were taken. The main presentation came from Deanna Bario Zales of the Global Blockchain Business Council, who described stablecoins as increasingly converging toward fiat-backed or asset-backed models, with algorithmic designs viewed more cautiously. She said stablecoins are being used for payments, remittances, DeFi activity, cross-border transfers, retail use in high-inflation markets, and treasury functions, while noting risks such as peg instability, reserve transparency, counterparty and network risk, and possible capital flight from weaker banking systems. She cited growth in supply, wallet activity, and transfer volume, and said U.S.-pegged stablecoins dominate the market, with USDT and USDC leading. Zales also discussed tokenized real-world assets, describing them as digital representations of physical assets that can enable fractional ownership, liquidity, and faster settlement. She said the market is growing quickly, with institutional participation from firms such as BlackRock and Franklin Templeton, and projected continued expansion. She closed with an overview of regulatory developments, emphasizing the new U.S. stablecoin framework under the Genius Act, the proposed Clarity Act, OCC guidance, and similar regimes in the EU, UK, UAE, Singapore, Japan, and elsewhere, all of which she said are shaping compliance requirements and market development.