Not every crypto proposal from Washington is bad for crypto. Anchorage Digital CEO Nathan McCauley says some of Maxine Waters' crypto proposals are "totally rational and good," like keeping customer assets out of an exchange's bankruptcy: "The actual truth is that some of the things that Maxine Waters is proposing there are totally rational and good. And in fact, we ourselves have argued for some of those kinds of provisions." "For example, assets at exchanges ought to be held in trust. They should not be part of the potential bankruptcy estate of the exchange. We've actually been advocating for that since before FTX, as a good policy." "Every other financial asset class has a separation of custody and exchange, literally. And so it was kind of a funny idea that we weren't going to get that in crypto."