Wyoming SPDI Charter Shields Stablecoin Customers From Bankruptcy
VERY IMPORTANT point, Matthew Bisanz . But #stablecoin issuers that are #Wyoming special-purpose depository institutions would not be resolved under the Bankruptcy Code, as would PPSI subsidiaries of an insured depository institution. That's a key advantage of the Wyoming #SPDI charter, for which the resolution rules prioritize customers over the estate, while the Bankruptcy Code prioritizes the estate and treats customers as general creditors. Custody customers of trust companies have recently learned the hard way what can happen under the Bankruptcy Code--i.e., that they can become general creditors and face haircuts/cram-downs, even if their assets were "segregated"...
Comptroller Defends Dual Banking, Praises Wyoming’s Crypto Rules
🚨🚨🚨--@USComptroller just gave one of the most significant speeches about US bank regulation in recent years, partly bc @ProfJulieHill asked probing questions. https://t.co/DNe7wwFSaA ✅-he strongly defended the dual banking system; working to end the federal "bigfooting" of states' bank chartering decisions,...
Banks Still Lag Behind on Tokenization Readiness
Yep, this survey pretty much comports with our experience with how the banking industry views its readiness for tokenization: https://t.co/Rtd28tJIrS
Exciting News Ahead: Stay Tuned for Updates
📣📣📣📣📣📣📣
Government Pressure Drives Most Debanking Cases
"I found that the majority of #debanking cases stem from governmental pressure." @EconWithNick Yep. That's how it works
Self‑custody Is Essential: No Keys, No Coins
"That is why Bitcoin OGs have long said, "Not your keys, not your coins," "don't trust, verify", and even "trusted third parties are security holes." --@NickSzabo4
Banks to Embed Wallets Directly in Online Banking
🎯+ wait until you see what @Vantage_Bank & @custodiabank are delivering to a consortium of banks that abstracts away the complexity of wallets *INSIDE* the banking system, accessible from your online banking page. I gave an interview to @BankDirector on...
ETFs Reveal TradFi Faults, Spark Bitcoin Financialization Debate
DOUBLE-EDGED SWORD of #ETFs + #WallSt manipulation of myriad fault-tolerances built into #tradfi--this👇is an example of what I've long discussed. It's also why @TraceMayer & I had big debates about whether his 6th network effect for #Bitcoin--financialization--was a good thing.
The Rise of Debanking: What It Means
👀 #debanking https://lnkd.in/eQ2CiKQf
Incumbent Banks Weaponize Regulation to Block Fintech Rivals
“Incumbents in the financial industry do use regulation to try to keep competitors out.” —@HesterPeirce at #ETHDenver @BlockchainAssn policy lunch YESSSSSSSSSSS https://t.co/solCqLuqDC
Privacy Must Be Default for Financial Transactions
“Privacy should be the default expectation” for financial transactions. —@HesterPeirce at #EthDenver @BlockchainAssn policy lunch https://t.co/HKdQpnmoPA
Wyoming’s Volunteer‑Driven Crypto Wins Now Face Capture
FLASHBACK to 8 years ago, when a group of ~30 volunteers who cared about economic diversification in #Wyoming + defining a property-rights based legal & regulatory regime for #crypto within the US got 5 blockchain-friendly bills passed in the 2018...
Businesses Turn to Stablecoins for Domestic Payments
“There’s going to be a lot of domestic payment activity as well,” said Shawn Main , who is EVP and chief business architect officer at Vantage Bank . “Anecdotally, I’ve talked to plenty of customers who are already doing this....
Two Key Catalysts Unveiled at Pomp’s Conference
Link to my brief talk at @APompliano’s conf last week, where Pomp asked me to name 2 catalysts at the end. Worth the short listen—he asked v good questions. h/t @inprobabilities for the clip https://t.co/PB5T1OWIVz
Key Takeaways From Pompliano's Conference Highlighted
THOUGHTFUL BLOG summarzing @APompliano's conf last week & this was one of his highlights (among many great ones--I esp enjoyed the ones he shared from @LynAldenContact & @jvisserlabs). Thanks for the shout-out--I just followed you, @hodl_nordic_21.💡 https://t.co/1RtThSMk0B https://t.co/ejypV0dCAb