Welcome to Web3 with A16C Crypto. I'm Robert Hackett.

Today we've got a news episode for you where we discuss the stories that matter and separate

the signal from the noise. Today we're talking about the passage of the Genius Act, that's the Guiding and Establishing

National Innovation for U.S. Stable Coins Act, which provides clear rules of the road for

stable coins in the U.S.

Here to discuss are some of our A16C crypto teammates who have had a front row seat to

the action. We've got Miles Jennings, A16Crypt who've had a front row seat to the action.

We've got Miles Jennings, A16Cripto's general counsel and head of policy,

plus A16Z government affairs partners Michael Reed and Ben Napier.

As always, none of the content should be taken as tax, business, legal, or investment advice.

Please see A16c.com slash disclosures for more important information, including a link to a list of our investments. Okay, President Trump just

signed into law the Genius Act a day after the House of Representatives voted to pass it.

What is the Genius Act and why does it matter? Miles, tell us.

Sure. So the Genius Act provides a regulatory framework for the regulation of stable coins.

We expect this to be kind of the foundational piece of legislation that's going to allow for

stable coins to really revolutionize how payments are done in the United States.

It's primarily an issuer-focused regulatory regime,

but establishes criteria that issuers of stable coins have to meet

in order to be compliant with the law.

That's really important because obviously stable coins

are supposed to represent a dollar.

And so it's important to make sure that, you know,

...