On The Brink with Castle Island Weekly Roundup 11/14/25 (Miran speech, Cash App adds Stables, DAT Hangover)(EP.685)
15 snips
Nov 14, 2025 This week covers a range of hot topics in the crypto world. A key discussion revolves around Fed Governor Stephen Miran's stablecoin speech and its implications for monetary policy. Coinbase's move out of Delaware raises eyebrows, alongside the fallout from their failed acquisition of BVNK. Visa's support for stablecoins and the Czech Republic's Bitcoin purchase add to an evolving financial landscape. Plus, debates on CBDCs and their potential impact on stablecoins shed light on the future of digital currencies.
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Market-Structure Draft Prioritizes Centralized Firms
- The Senate Agriculture Committee draft advances market-structure clarity but leaves DeFi treatment blank.
- That suggests Congress may regulate centralized crypto first and defer DeFi rules for later.
Atkins' Token Taxonomy Clarifies Categories
- Paul Atkins proposed a token taxonomy distinguishing network tokens, digital collectibles, and tokenized securities.
- Network tokens tied to functional decentralization would not be securities under his framework.
Fed Sees Stablecoins Boosting Dollar Demand
- Fed Governor Stephen Miran warned stablecoins are increasing foreign demand for U.S. Treasuries and may lower U.S. borrowing costs.
- He also argued stablecoin growth could reduce the neutral rate of interest and affect monetary policy.
