Stablecoins: Crypto Kryptonite

This article is part of the series, “Left Hook Economics: The Dollars & Sense Policy Forum.”

In part three of his series on cryptofinance, Gerald Epstein warns of the rise and risks of stablecoins. He argues that the passing of the Genius Act, which allows both banks and non-banks to issue stablecoins, could “undo decades of regulatory law and usher in a new era of consumer abuse and financial instability.”

Part one: “Crypto: What Is It and What Is the Fuss All About?”

Part two: What’s Crypto Good For? Corruption, Exploitation, and Billions for Insiders