The U.S. Finally Has Stablecoin Legislation. Can Crypto Compete With Banks? - Ep. 871

49 snips

Jul 18, 2025

Dante Disparte, Chief Strategy Officer at Circle and a key player behind the GENIUS Act, discusses groundbreaking developments in U.S. stablecoin legislation. He explains how bipartisan support helped navigate political tensions, offering clarity for the crypto industry. The conversation also dives into the potential implications for banks, Circle's plans for a national trust bank, and the ongoing battle over interest-bearing stablecoins. With this new law, he explores whether the U.S. can enhance competitiveness while protecting consumers and the dollar.

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ANECDOTE

Dante's Crypto Regulation Milestone

Dante Disparte shares that at a major global meeting, he was able to say America will have clear crypto rules for the first time.
This marks a milestone after seven years in the crypto sector at the bleeding edge of the industry.

INSIGHT

Bipartisan Win for GENIUS Act

The GENIUS Act passed with bipartisan support despite political drama including anti-CBDC protests.
It represents a major bipartisan victory for crypto and the US dollar's role in digital currency.

INSIGHT

Complex Stablecoin Regulatory Framework

The GENIUS Act allows banks, non-banks, and credit unions to issue dollar stablecoins under a tiered regulatory framework.
It preserves state oversight and adds federal regulation for large issuers, fostering competition and consumer protection.

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After years of hostility toward crypto, the U.S. passed its first-ever federal law regarding the industry.

The GENIUS Act, stablecoin legislation backed by both parties, was signed by President Trump’s desk after a last-minute showdown in Congress. Despite being seen as a sure thing, the bill’s path turned turbulent this week, with objections from Democrats over Trump’s crypto ties, and a sudden revolt from the Freedom Caucus around anti-CBDC language.

Now that it’s through, what will this law actually do? And who stands to benefit—or lose?

In this episode, Dante Disparte, Circle’s chief strategy officer and one of the key players behind the legislation, joins Unchained to explain:

How the bill won bipartisan support despite political tensions
Why banks may think twice before issuing stablecoins
And why Circle is applying for a national trust bank charter

Plus, the battle over interest-bearing stablecoins, how this bill fits into the broader financial regulatory landscape, and whether U.S. consumers and the dollar come out ahead.

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Dante Disparte, Chief Strategy Officer and Head of Global Policy and Operations at Circle

Unchained:

Timestamps:

🎬0:00 Intro

🇺🇸 2:23 Why Dante says this “crypto week” went better than anyone expected

🤝 3:44 How the GENIUS Act won bipartisan support despite major political friction

📜 6:10 Why Dante believes the bill is bigger than just crypto

🏦 9:02 How Circle plans to compete with the banking giants

🪪 15:22 What Circle hopes to achieve with its national trust bank application

🔐 18:28 Why financial privacy matters so much in the U.S. system

💵 19:34 How deposit tokens differ from stablecoins

📈 22:34 What Circle might do when interest-bearing stablecoins are finally allowed

👛 27:43 How this new law could impact everyday Americans and their money

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