The Promise of Stablecoins: A Cryptocurrency Meant to Be Boring
On today’s Big Take podcast: Making sense of stablecoins — and how the Genius Act aims to regulate them.
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President Trump signed the Genius Act, the US’s first major federal cryptocurrency legislation, earlier this month. The law focuses on one type of cryptocurrency: stablecoins. So, what exactly is a stablecoin?
On today’s Big Take podcast, Bloomberg’s Emily Mason joins host Sarah Holder to break down what stablecoins are, how they work and what their wider adoption could mean for the crypto industry, banks and consumers.
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Here is a lightly edited transcript of the conversation: