Europe’s Stablecoin Paradox: In Trying to Protect the Euro, the ECB May Be Ceding the Rails
Europe’s stablecoin debate is often presented as a familiar prudential argument. Central bankers worry that privately issued digital money could…
Category: Policy
Europe’s Digital-Dollar Problem: Tokenized Cash Is Scaling in Dollars Before Euros
Europe’s stablecoin problem is often described as a technology gap, but that is too narrow. What Europe is facing is…
Wall Street Wants the Idle Stablecoin Balance
The first phase of the stablecoin story was about issuance. The second was about regulation. The third, which is now…
The Clarity Act Fight Is Really About Who Gets to Monetize Digital Cash
Washington likes to narrate crypto regulation as a broad cultural clash between innovation and control. That framing is politically useful,…
Bailey’s Warning Shows Stablecoins Are Entering the Convertibility Era
Stablecoin regulation is often discussed as though the main policy question were yield. Can issuers pay it? Can exchanges pass…
The CLARITY Act’s Stablecoin Fight Is Really About Who Gets to Own Digital Cash Yield
For all the rhetoric about innovation, decentralization, and legal certainty, the most revealing battle in Washington’s current crypto debate is…
The stablecoin rewards compromise shows Congress still cannot decide what counts as a deposit
The latest Senate compromise on stablecoin rewards is being described as a technical fix, but it is better understood as…
The CLARITY compromise is trying to define stablecoins as rails, not deposits
The most revealing development in Washington’s stablecoin debate is not the latest talking point about innovation or the latest warning…
Stablecoin Policy Is Becoming a Geopolitical Fight Over Market Structure
Stablecoins are no longer just a payments story or a U.S. legislation story. They are becoming the place where sanctions…