Stablecoin Debate Illustrates the Failure of the Anti-Crypto Army

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 16 March 2025

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Two essays that reflect Elizabeth Warren and her anti-crypto army's failure shape the debate around common sense crypto policy. Reading and discussion inspired by: https://www.coindesk.com/opinion/2025/03/13/no-the-stablecoin-bill-isn-t-built-for-billionaires https://www.coindesk.com/opinion/2025/03/13/stablecoins-are-a-vital-innovation-that-risk-being-crushed-by-misguided-fear Sponsored by: Ledger Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.3	What's going on, guys? It is Sunday, March 16th, and that means it's time for Long Read Sunday.
0:23.7	Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it,
0:27.2	give it a rating, give it a review, or if you want to dive deeper into the conversation,
0:30.9	come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash
0:35.4	breakdown pod. All right, friends, back with another long reads episode.
0:40.1	If you've been paying attention this week, the big thing happening in the world of DC
0:43.3	crypto is a set of stable coin bills, which have been moved now through committee, meaning
0:48.1	that they are on the next leg of their journey to becoming law.
0:50.9	We today have a pair of op-eds about those bills.
0:56.7	The first is by Salah Gazal, who is policy and legislative analysis manager at the Blockchain Association, and writes a piece simply titled,
1:01.1	No, the Stablecoin bill isn't built for billionaires. Elizabeth Warren claims that proposed
1:06.1	stable coin legislation gives Elon Musk a, quote, clear runway to control U.S. money and payments.
1:11.4	It doesn't.
1:16.0	We're going to read that, and then we will switch to our second piece also about stablecoins.
1:21.4	I'll throw it over to the 11 Labs version of myself for this reading, and I'll be back in just a minute.
1:28.8	Senator Elizabeth Warren, Massachusetts D, recently sounded the alarm over new proposals on stablecoin legislation,
1:33.2	claiming they'd give Elon Musk a clear runway to control U.S. money and payments.
1:36.2	If that sounds overly dramatic, it's because it is.
1:38.4	Here's what these bills actually do.
1:43.7	The Genius Act and the Stable Act aim to create responsible guardrails for stable coins, ensuring consumer
	...

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