SPECIAL EP: America's Crypto Regulatory Reset with SEC Commissioner @HesterPeirce. Rob and Andy interviewed @SECGov Commissioner Hester Peirce about why 2025 marks the line in the sand for crypto regulation in America. After years of regulation through enforcement, the table is finally being set for institutional adoption. In this conversation, Commissioner Peirce reveals what's changing, covering: - The SEC's 180-degree shift on crypto regulation - Why most tokens aren't securities - Capital formation and the return of ICOs - Self-custody as a fundamental right - CFTC vs SEC jurisdiction split - Privacy protections in America's digital future - What 2026 holds for comprehensive regulation Timestamps: 00:00 Intro 01:17 Why the government shutdown changed everything 05:07 2025 is the line in the sand year 07:16 The SEC's 180-degree turn on crypto 12:19 Steel-manning critics vs identifying adversaries 14:33 Hibachi Ad, Trezor Ad, YEET Ad 21:28 Public equities and the token model 26:16 CFTC vs SEC: where should the line be? 31:30 Relay Ad, Kalshi Ad, InfiniFi Ad, Haliday Ad 32:27 The return of ICOs done right 42:35 Self-custody as a fundamental right 45:23 The Watermelon and Peanut Butter story 48:00 Rapid fire: Three eras of crypto