The crypto winter has left many investors out in the cold. People have lost money as lending platforms have gone bust and complex stablecoin systems have unravelled. The push for better guardrails to be put in place has accelerated. But how do you protect consumers without stifling innovation? This week hosts Alice Fulwood, Mike Bird and Soumaya Keynes hear from Senator Cynthia Lummis, co-author of a bill that would split oversight of crypto in the US between existing agencies. They then speak to the head of one of those agencies, Rostin Behnam from the CFTC, about the role it can play. And our editor Kim Gittleson heads to an industry gathering in Paris, to find out how European crypto insiders are reacting to attempts to regulate them. Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer See acast.com/privacy for privacy and opt-out information.