Rich Habits Podcast

132: What The GENIUS Act Means For You & Your Money w/ Nick Elledge

15 snips
Aug 25, 2025
Guest
Nick Elledge
Nick Elledge, CEO of Stablecore and a stablecoin expert, dives into the groundbreaking GENIUS Act, the U.S.'s first major cryptocurrency legislation. He highlights how this act reshapes the stablecoin landscape, enhancing consumer trust and reducing transaction costs in global commerce. Elledge explores innovative uses for cryptocurrencies in mortgage financing and how Bitcoin can serve as mortgage collateral. The conversation also touches on tokenized assets' potential to broaden financial access and essential retirement strategies for high earners.
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INSIGHT

GENIUS Act Defines Stablecoin Rules

  • The GENIUS Act creates the first federal framework for payment stablecoins and forces regulatory clarity on issuers and backing.
  • It requires one-to-one backing with safe assets and limits issuers to regulated financial institutions.
INSIGHT

Backing, Limits, And Non-Deposit Status

  • The law mandates one-to-one backing in safe assets, effectively outlawing risky algorithmic stablecoins.
  • It also clarifies that payment stablecoins are not bank deposits and cannot collect interest.
INSIGHT

Issuance Restricted To Banks

  • Issuance becomes an exclusive club restricted to banks and regulated entities under the law.
  • This creates a high barrier to entry and shields issuance from big tech non-bank players.
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