Stablecoins, Market Structure, and More – Evaluating the Crypto Legislative Landscape
“Stable coins are payments technology. Payments technology now doesn't necessarily need to be issued by a company that does banking or provides financial services...”quoteThe Senate is poised to pass the Genius Act, a stablecoin legislation bill that faces criticism for being overly broad and prohibiting non-financial public companies from issuing stablecoins.summaryThe Genius Act effectively prohibits publicly traded non-financial companies (e.g., Amazon, Walmart) from issuing stablecoins, creating an arbitrary competitive cap that favors private companies and unicorns over public takeaway


