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Birdnals.eth 🎩💩
@birdnals
It was a quiet week for lawsuits (nice), but the young guns in Senate Banking crossed party lines on stable coin legislation, and IRS Broker rule changes for crypto are all but dead. Here's everything that happened in crypto law last week: https://nfttorney.com/2025/03/18/off-the-blockchain-march-10-17-2025/
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Sarah Shtylman
@shodyesq
Much as I genuinely don’t think we need a stablecoin bill, I also do not understand why there is *anyone* left, of any political persuasion, who would try to kill or neuter it.
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Birdnals.eth 🎩💩
@birdnals
I think it makes sense for stablecoins to have some guardrails on assets backing them and a bill codifying that so banks and companies can have more comfort integrating them. But agree that trying to kill it as opposed to find common ground on the guardrails makes zero sense for either side.
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Sarah Shtylman
@shodyesq
The guardrails you mention make sense, which is why killing it is absurd. I view it as unnecessary / redundant because those guardrails already exist for the issuance and regulation of payment instruments.
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Sarah Shtylman
@shodyesq
IMO could be a two page bill that basically says “lawfully issued stablecoins must be issued in accordance with other state and federal laws applicable to payment instruments.” In some ways, this simple approach would be preferable bc it would be tech neutral.
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