In this episode of the Thinking Crypto podcast, host Tony Edward interviews Raj Mukherjee, founder and CEO of Bowdoin Advisory, about his background in traditional finance, his transition to the crypto industry, and his experience working with the IRS on digital asset regulations. They discuss the evolution of crypto regulations, the challenges of balancing innovation with consumer protection, and the potential for stablecoin legislation and market structure clarity. Mukherjee shares insights on the IRS's progress in understanding and regulating digital assets, the need for collaboration between the government and the crypto industry, and the complexities of DeFi regulation. He also touches on the potential for tokenized digital identities and his vision for Bowdoin Advisory.