One of my fav creators on @zora https://zora.co/coin/base: | Rachael Horwitz on Binance Square

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Rachael Horwitz

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One of my fav creators on @zora 
https://zora.co/coin/base:0xa489aac30cffde9f34f01b16e2899fe3da7b7f58

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Rachael Horwitz

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The attempts to position the most boring part of crypto (payments!) as a fever dream of financial anarchy is as bad faith as it is transparent. It’s a boring bill to regulate boring tokens that make dollars programmable, open, and interoperable. That's definitely quietly revolutionary but for regular people who use money on the internet every day. The Genius Act is basically a regulatory catch-up and while exciting to me, it's actually a straight forward technocratic bill. Stablecoins are literally just a dollar on the internet. A fully reserved, tokenized version of the dollar that can move 24/7, settle in seconds, and be programmed like software. These authors in this extremely silly piece warn stablecoins might break the dollar system. They *are* the dollar system!! 🤦‍♀️ But better b/c when money moves as easily as email, people don’t need to wait days to get paid, or pay $30 for a wire, or be excluded from the system entirely because they don’t have the right bank or passport. That's why the demand for dollar-backed stablecoins is so huge (even without regulation). Honestly critics using everything they have on this easy-to-support common sense bill and choosing *not* to keep their powder dry for market structure is very telling.

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The attempts to position the most boring part of crypto (payments!) as a fever dream of financial anarchy is as bad faith as it is transparent. It’s a boring bill to regulate boring tokens that make dollars programmable, open, and interoperable. That's definitely quietly revolutionary but for regular people who use money on the internet every day. The Genius Act is basically a regulatory catch-up and while exciting to me, it's actually a boring, technocratic bill. Stablecoins are literally just a dollar on the internet. A fully reserved, tokenized version of the dollar that can move 24/7, settle in seconds, and be programmed like software. These authors in this extremely silly piece warn stablecoins might break the dollar system. They *are* the dollar system!! 🤦‍♀️ But better b/c when money moves as easily as email, people don’t need to wait days to get paid, or pay $30 for a wire, or be excluded from the system entirely because they don’t have the right bank or passport. That's why the demand for dollar-backed stablecoins is so huge (even without regulation). Honestly critics using everything they have on this easy-to-support common sense bill and choosing *not* to keep their powder dry for market structure is very telling.

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Crypto people now that lots of normal people want to talk to us (about stablecoins)

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Really important to build the muscle from day one to lead through the noise. Crypto founders are particularly good at this because of the nature of this ecosystem. Thanks @axios!

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The GENIUS Act is not just about stablecoins, it’s about whether Congress can meet the challenge of governing in the age of exponential tech. Even if you hate crypto, you should want the GENIUS Act to pass. This isn’t like the first wave of the internet. That era gave us new ways to share information. This one is building entirely new economic infrastructure including programmable money, autonomous markets, intelligent agents, etc. Technologies like crypto and AI are rewiring the foundations of how value moves, how decisions get made, how systems run. And our laws haven’t caught up. In many cases, they don’t even apply. So far, we’ve defaulted to letting the executive branch and the courts fill the void. Regulating by enforcement and interpreting outdated laws to cover new realities. That’s not sustainable. It’s not democratic. And it’s certainly not a strategy for American innovation leadership. It is Congress’s job to set the rules of the road. Preferably before crises hit, and before the courts are forced to guess. The GENIUS Act is a rare, bipartisan shot at doing something different: proactive, clear, targeted legislation for a transformative tech. It’s how Congress starts building the muscle to govern in this new era where the tools move fast, and the stakes are systemic.

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