BREAKDOWN: The Senate’s Arguments Against Stablecoins
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 15 December 2021
⏱️ 14 minutes
🧾️ Download transcript
Summary
A review of what happened at the Senate Banking Committee’s recent hearing.
This episode is sponsored by NYDIG.
Today on “The Breakdown,” NLW looks at the recent U.S. Senate Banking Committee hearing on stablecoins. More contentious than the previous week’s House Financial Services Committee hearing on crypto, NLW argues the hearing helps us understand the current arguments against stablecoins from some of their most important political opponents.
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NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit: Rod Lamkey-Pool/Getty Images News, modified by CoinDesk.
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Transcript
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| 0:53.9 | Welcome back to The Breakdown with me, NLW. |
| 0:59.0 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:06.0 | The breakdown is sponsored by Nidig and produced and distributed by CoinDesk. |
| 1:12.4 | What's going on, guys? It is Wednesday, December 15th, and boy, is there a lot to catch up on today. |
| 1:18.5 | First, we are going to talk about the stable coin hearing in the Senate yesterday. It was the Senate Banking Committee. |
| 1:25.3 | And this was, of course, the follow-up to the overwhelmingly |
| 1:28.2 | and perhaps even surprisingly positive House Financial Services Committee last week. |
| 1:34.5 | If you missed my episode about the House Financial Services Committee hearing on crypto, |
| 1:39.4 | it was unexpectedly positive, proactive, bipartisan. |
| 1:47.3 | This was the hearing that had a set of crypto CEOs from Coinbase, FTX, Circle, and more. And really the standout thing from that session |
| 1:54.9 | was the sense that these lawmakers were now treating this industry, this technology, as something that existed, |
| 2:03.4 | as something that had lots of potential, as something that had specific issues that they wanted |
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