There is a lot more trouble to come

There is a lot more trouble to come

From a systemic perspective, the GENIUS Act's main shortcoming is its failure to deal effectively with the inherent risk of stablecoin runs, because it prevents regulators from prescribing strong capital, liquidity, and other safeguards. And when any stablecoin issuer – domestic or foreign – gets into trouble, who will step in, and with what authority, to prevent the problems from spreading to the real economy, like in the 1930s? from The Crypto…