CoinDesk’s The Policy Protocol hosts Rebecca Rettig and Renato Mariotti open on the OCC finalizing its stablecoin rules and dig into the OKXICE filing that showed a growing pile of blue-chip objections to tokenized equities.
They’re then joined by Zero Knowledge founder and CEO Austin Campbell, who breaks down JPMorgan’s JPMD deposit token landing on Ethereum, and argue that crypto becoming “plumbing” is a sign it won. Austin also delivers his most controversial take: it is mathematically impossible for stablecoins to cause bank deposit flight.
Plus, Rebecca and Renato name a16z Crypto, newly renamed a16z Frontier by Chris Dixon, as their Person of the Week.
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Check out CoinDesk Research's report, commissioned by RealFi, on real-world yield in productive stablecoins, at https://www.coindesk.com/research/beyond-the-risk-free-rate-diversified-real-world-yield-in-productive-stablecoins
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Chapters/Timecodes:
00:00 Welcome to The Policy Protocol
01:44 A Nonstop Stretch for Crypto Policy
02:23 OCC Finalizes Its Stablecoin Rules
05:29 The TSV Land Rush and Tokenized-Equity Objections
08:54 JPMorgan's JPMD Deposit Token on Ethereum
12:07 Did Anyone Win the Stablecoin Yield Fight?
13:28 Tokenized Deposits and SoFi's FDIC Play
15:45 Is Crypto Just Plumbing Now?
17:05 Hot Take: Stablecoins Can't Cause Deposit Flight
19:52 Person of the Week: a16z Crypto
