Stablecoins Get a Law—Cue the Crypto Chaos! 🎭

by

Oh, joy! The GENIUS Act has been signed—because nothing says “genius” like letting politicians regulate crypto. 🤓 Ripple’s SVP of Stablecoins, Jack McDonald, took to Twitter (because where else do serious financial discussions happen?) to unpack what this means for the wild, wild west of digital money.

The stablecoin bill—lovingly dubbed the GENIUS Act—finally became law last Friday. A “huge win” for crypto, they say. Translation: the industry can now pretend it’s not just a bunch of nerds gambling with internet money. 🎰

Stablecoins, those little digital pacifiers that promise not to freak out like Bitcoin, are supposed to stay pegged to the dollar. (Spoiler: Sometimes they don’t.) But hey, now they’ve got rules! Issuers must actually back them with real assets—like dollars and, presumably, the hopes and dreams of crypto bros. 💸

And because nothing screams “trust us” like a public spreadsheet, stablecoin issuers now have to disclose their reserves. Because transparency is totally what crypto was known for before this. 🙄

Ripple’s Jack McDonald Drops Some Truth Bombs 💣

Jack McDonald—CEO of Standard Custody, SVP of Stablecoins at Ripple, and apparently a man with too many titles—tweeted that the GENIUS Act has every Tom, Dick, and Silicon Valley startup wondering if they, too, should launch a stablecoin. Because why not? Everyone else is doing it. 🚀

1/With the signing of the GENIUS Act, we’re seeing more consumer companies, retailers, platforms, and tech firms explore whether they need their own stablecoin.

But let’s be clear: launching a stablecoin isn’t like launching a new app. It’s infrastructure. And getting it wrong…

— Jack McDonald (@_JackMcDonald_) July 22, 2025

McDonald, ever the voice of reason, warned that stablecoins aren’t just another app you can half-ass and patch later. Nope. They’re *financial infrastructure*—which, in corporate speak, means “if you screw this up, people will lose actual money, and they will sue you.” 💼

He also called out the trend of “walled-garden stablecoins”—AKA, digital Monopoly money that only works in one company’s ecosystem. Because nothing says “innovation” like reinventing the company scrip. 🏰

Bottom line? A stablecoin isn’t a marketing gimmick or a loyalty points scheme. It’s real money (sort of), and if you treat it like a side project, the internet will eat you alive. Bon appétit. 🍽️

Read More

2025-07-23 16:22