< All reading lists

This is an incomplete list of the shortform reading (and listening and watching) I've been doing lately.

Shortform reading list

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1 results matching these filters out of 1408 total results.
“Forcing Bank Deposits to Subsidize Stablecoins: the GENIUS Act”.
Adam Levitin in Credit Slips.
Published . Read on .
Whatever else one might think about stablecoins or the GENIUS Act, its insolvency provisions are an absolute mess, both conceptually and in drafting. If the GENIUS Act becomes the law, we're in for a FUBAR situation when a stablecoin issuer ends up insolvent. Even more concerning, if a bank custodian for a stablecoin issuer's reserves ends up insolvent, the claims of the stablecoin investors will come ahead of the bank depositors. That's right. Crypto comes ahead of ma-and-pa.  The effect: stablecoins are being subsidized by bank deposits. Now that's GENIUS.
law, stablecoins