With reports that the SEC may be close to releasing its long-awaited tokenization innovation exemption, debate over the best way for investors to access stocks on blockchain is heating up, with the “onchain equity” versus “synthetic exposure” conversation dominating crypto circles this week. The team breaks down the merits of both models with Robert Leshner of Superstate.

Plus, Caitlin Long joins the show to discuss the Federal Reserve’s latest steps toward expanding crypto firms’ access to the Fed’s payment rails and the SEC repealing its decades-old "gag order," and Simon Babakhani of Zebec Network talks about his mission to crack open the $11 trillion global payroll market.