Law & Policy

Genius is law now, which is a monumental event in the progression of crypto law in the United States. I wrote about what this will mean, some open questions and some implications. The biggest one is this: who will get the interest stablecoin reserves collect? At first glance, it might look like stablecoin issuers, but I'm not sure. Check it out here and subscribe.

Genius is law now, which is a monumental event in the progression of crypto law in the United States. I wrote about what this will mean, some open questions and some implications. The biggest one is this: who will get the interest stablecoin reserves collect? At first glance, it might look like stablecoin issuers, but I'm not sure. Check it out here and subscribe.



https://broganlaw.substack.com/p/genius-act-passes

broganlaw.xyz — elite legal services for $700/hr and less — you’re burning money by not hiring us 💸

I think your point about interest or yield arising “solely” from holding a stablecoin is a good one, but I’d go even further to say that it is likely pretty feasible to structure exchange partnerships so that they’re not “interest or yield” to begin with. Instead they are rev share arrangements, or marketing and distribution payments… that just so happen to be funded by the reserve revenues generated by the issuer.

Lawyer (but probably not yours) • yogi • parent • crypto/payments nerd