“These fundamental rules are absent in the US” On this week’s @CoinDesk Policy Protocol, @Payward/@krakenfx Chief Policy Officer @JonathanJachym joins @RebeccaRettig1 and @renato_mariotti to break down the CFTC’s bid to regulate spot crypto without Congress, bringing Hyperliquid to the US, and why the Bitnomial model matters. Chapters/Timecodes: 00:00 Welcome to The Policy Protocol 02:10 The CFTC Moves to Regulate Spot Crypto 03:56 The ANPR Rollout 06:20 CFTC Resourcing and the Kalshi–NFL Fight 07:26 'Bunker Mode' and AI vs. Crypto 09:38 Jonathan Jachym of Payward Joins 10:08 Bringing Hyperliquid to the US 13:35 Bitnomial, 2C2D, and the CFTC's New Model 16:46 'Not a Partisan Issue': Filling the US Gap 19:14 Partnering With the Banks: Wells Fargo and Beyond 21:04 Will the Progress Last Under a New Commission? 24:39 Person of the Week: Solana & the Samsung Wallet Partnership