Bitcoin, Fiat & Rock'n'Roll

The US regulates stablecoins for the first time – what's next, Europe? Genius Act vs. MiCA – Stablecoins Between the US and EU In this episode of Bitcoin, Fiat & Rock’n’Roll, we dive into one of the hottest topics in crypto regulation: the newly passed US stablecoin legislation – the Genius Act. But we don’t stop there. Together with Anja von Rosenstiel, we go beyond the headlines and compare the Genius Act with MiCA – the EU’s Markets in Crypto-Assets Regulation. What are the key differences between stablecoin regulation in the US and the EU? What do they mean for issuers, users, and central banks – especially the ECB? And why is the US seemingly opening its doors to global stablecoins while the EU remains hesitant? Anja von Rosenstiel is uniquely qualified to answer these questions. She’s a licensed attorney in both Germany and the US, counsel at FinLaw in Frankfurt, adjunct professor at Boston University, and a research fellow at the Decentralization Research Center. Together, we also co-authored an article on the topic in Frankfurter Allgemeine Zeitung – linked in the show notes (English version included). In this episode, we discuss: • The content and implications of the Genius Act – and why it served as a “catalyst” for broader US crypto legislation • Key differences in issuer oversight, reserve requirements, capital obligations, and redemption rights • Why the Genius Act seems more innovation-friendly than MiCA – but comes with its own trade-offs • The strategic contrast: the US aiming for stablecoin dominance, while the EU focuses on restriction and control • What the EU needs to do now to stay relevant in the global stablecoin race – including ideas for ECB involvement This is a deep dive for anyone interested in stablecoins, regulation, and the global future of digital money. 🎧 Tune in, subscribe, and share! LinkedIn Anja von Rosenstiel [https://www.linkedin.com/in/anja-von-rosenstiel-502b75130/] Article on Genius vs MiCAR in FAZ [https://www.faz.net/pro/digitalwirtschaft/transformation/usa-regulieren-erstmals-stablecoins-eu-fehlt-trotz-micar-der-politische-wille-110600259.html] English version of the article on Genius vs MiCAR in FAZ [https://alexanderbechtel.com/the-us-regulates-stablecoins-for-the-first-time-what-now-europe/] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Industry leaders from AllUnity, Bitwise, Citi, Credit Suisse, Deutsche Bank, Dow Jones, and SAP discuss institutional adoption. 🎉 Welcome to Episode 350 of Bitcoin Fiat & Rock’n’Roll (BFRR)! 🎉 In this milestone episode, we’re thrilled to share a full replay of the panel discussion “The Evolution of Digital Currencies: Navigating the Future of Finance” recorded live at the London Blockchain Finance Summit. This dynamic conversation brings together top-tier experts from global financial institutions and blockchain pioneers to explore the evolution of digital currencies. Moderator: Bilal Jafar, Dow Jones Panelists include: Joy Adams, COO Digital Assets, Deutsche Bank Ray Dillet, Head of Financial Institutions, Bitwise Francesco Roda, Digital Asset Risk Director, Citibank Simon Seiter, CFO/CPO, AllUnity (former Head of Digital Assets, Hauck Aufhäuser Lampe) Previn Singh, Advisor, Global Digital Finance (former Head of Digital Assets, Credit Suisse) Michael Blaschke, IT Architect at SAP and member of SAP’s Digital Currency Hub Together, they dive into critical themes: * Stablecoins vs. CBDCs: Why stablecoins are already winning in emerging markets * Tokenization of real-world assets: From hotels to auto finance to securities * Digital identity and agentic AI: Why AI-powered wallets are on the rise * Institutional risk management and regulatory transformation across the US and Europe * Blockchain beyond cost-efficiency: Rethinking entire business models * Global hotspots for digital asset innovation: US, Europe, Middle East, Asia & South America Whether you're in traditional finance or a Web3 native, this episode offers sharp insights into how digital assets and money are reshaping global finance. Grab a coffee and tune in to this landmark conversation as we celebrate 350 episodes of BFRR! The London Blockchain Finance Summit [https://londonblockchain.net/blockchain-event-series/finance-summit/] London Blockchain Conference [https://londonblockchain.net/] Full video recording of panel on YouTube [https://www.youtube.com/watch?v=wDa7zPf6WAY&t=2666s] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Exploring wholesale innovation, retail challenges, and why stablecoins could become the future of digital money with John Kiff Welcome to a new episode of BFRR – Bitcoin, Fiat & Rock'n'Roll, the podcast where we explore the evolving world of digital money at the intersection of traditional finance, digital assets, and emerging technologies. In this episode, co-host Jonas is joined by none other than John Kiff, a globally respected expert on central bank digital currencies (CBDCs) and digital money. With over 40 years of experience in monetary policy and payments—from the Bank of Canada to the International Monetary Fund (IMF)—John brings unparalleled insight into the global transformation of money. We dive deep into: 💡 How John got started in the CBDC space and how it's evolved since the early days 🏦 The global shift between retail vs. wholesale CBDCs, and where momentum is heading 🌐 Lessons from real-world CBDC missions, including Bolivia and Bhutan 📉 Why some retail CBDC projects are stalling (and what we can learn from that) 🧩 The role of tokenized deposits and their integration with wholesale CBDC infrastructure 🔐 Privacy, inclusion, and infrastructure—what it really takes to build a usable CBDC 💥 The potential for stablecoins backed by central bank reserves ⚙️ Composability, modularity, and the future of money on public blockchains 📊 Why central banks must rethink digital payment systems—especially in a multi-currency world. From technical nuance to policy implications, this episode offers a clear-eyed view of what's hype, what's real, and what's next for CBDCs and digital finance. 🎧 Whether you're a policymaker, developer, crypto-curious, or just obsessed with the future of money—this one is not to be missed. 🔗 Subscribe, share, and join the conversation on our Telegram community. — 📬 Follow John’s insights via his blog and dailies at kiffmeister.com or on Twitter/X @Kiffmeister 🔗 Learn more about the Digital Euro Association and our global CBDC tracker in the show notes. Paper on tiered remuneration by Ulrich Bindseil [https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351~c8c18bbd60.en.pdf] LinkedIn John Kiff [https://www.linkedin.com/in/kiffmeister/] X John Kiff [https://x.com/Kiffmeister] Kiffmeister Daily Blog on digital money [https://kiffmeister.com/] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes, and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First, try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Balancing financial sovereignty with innovation - and how to navigate the future of public and private digital money with Ulrich Bindseil (ex-ECB) 🎙 BFRR – Bitcoin, Fiat & Rock’n’Roll is back with a timely deep dive into the evolving landscape of digital money. In this episode, co-host Jonas is joined by Ulrich Bindseil, Director General of Market Infrastructure and Payments at the European Central Bank (ECB), for a wide-ranging and insightful conversation on CBDCs, stablecoins, and the future of payments in Europe. Ulrich, who has been shaping ECB policy for over two decades, shares his unique perspective on the digital euro project, offering behind-the-scenes insights on its progress, challenges, and ambitions. From strategic decisions to technical architecture and privacy considerations, this episode covers the most important developments in the preparation phase—and what lies ahead beyond 2025. We also take a critical look at stablecoins, including their potential benefits, regulatory considerations under MiCA, and the ECB’s cautious but evolving stance on their role within the European financial ecosystem. Can euro-denominated stablecoins support the international role of the euro? Should the ECB allow them access to its balance sheet? And what role could public blockchains play in the future of wholesale finance? The episode closes on a personal note as Ulrich reflects on his 28-year journey at the ECB and hints at what's next. If you're curious about how digital public money, blockchain, and monetary sovereignty intersect, this episode is a must-listen. 🧠 Topics: ECB’s digital euro strategy & timeline Stablecoins & e-money tokens under MiCA Permissionless DLTs vs. permissioned infrastructure Interoperability, privacy & market share goals The ECB’s pre-funding policy & wholesale payments innovation International competition, strategic autonomy & future challenges 📡 Stay informed. Stay curious. Subscribe now and join us at the frontier of digital finance. Note that the episode was recorded on June 25, 2025. On this date, Ulrich was still in his role at the European Central Bank, which he left on June 30. Paper on digital money taxonomy [https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp3022~67ea842a2a.en.pdf] Paper on digital money infrastructure [https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5138052] LinkedIn [https://www.linkedin.com/in/ulrich-bindseil-764b4015/] SSRN Account Ulrich Bindseil [https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=327704] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Senate passes first US stablecoin law as Circle IPOs and JPM launches tokenized deposits. 🎙️ In this end-of-month news episode of Bitcoin, Fiat & Rock’n’Roll, hosts Jonas, Alex, and Michael unpack the hottest developments in digital finance during June 2025 – and what a month it was. The stablecoin hype continues with regulatory history being made: the U.S. Senate passed the Genius Act, the first major stablecoin regulation in the U.S. This bipartisan legislation sets clear rules for reserve backing, consumer protection, and issuer licensing, marking a pivotal step toward mainstream stablecoin adoption. But will combining it with the broader Clarity Act derail its momentum? Meanwhile, Circle’s IPO hit the New York Stock Exchange – and made headlines. With a valuation nearing $50B, it surpassed even Deutsche Bank, making it one of the most successful (and underpriced) IPOs in decades. Is this sustainable or just a reflection of FOMO in the stablecoin gold rush? We also dive into JP Morgan’s bold move: launching the JPMD tokenized deposit on Coinbase’s Base – a first for a major bank on a public blockchain. What does this mean for the future of bank-issued money and the evolving lines between stablecoins and deposit tokens? On the market side, Bitcoin hovered around $107K despite geopolitical shocks, with new players like Paris Saint-Germain and Pakistan building Bitcoin reserves. ETH remained steady, and we reflect on our ETH “alpha” moment earlier this year 👀. Plus: • Why Stripe’s acquisition of wallet provider Privy shows real-world crypto payments are coming fast. • Circle vs. Tether: why Genius gives Circle the edge. • Could Europe be falling behind as the U.S. projects “crypto-mercantilism” to defend the dollar? Don’t miss our closing Knowledge Bites, including new papers on Bitcoin reserves, financial sovereignty, and a deep dive into the regulatory arms race between the U.S. and EU. 🎧 Subscribe now to Bitcoin, Fiat & Rock’n’Roll and follow us on YouTube, LinkedIn, and Telegram. Europe’s digital currency voice – straight to your ears. BITCOIN #STABLECOINS #DIGITALEURO #GENIUSACT #CRYPTONEWS #ETH #CIRCLEIPO #JPMORGAN #STRIPE #CBDC #PODCAST Knowledge Bite Jonas: Digital Euro Association: “The Role of Stablecoins in Financial Sovereignty” [https://home.digital-euro-association.de/working-groups] Knowledge Bite Alexander (German version): Börsen-Zeitung: “Bitcoin-Reserve: Genialer Schachzug oder kostspielige Fehlentscheidung?” [https://www.boersen-zeitung.de/konjunktur-politik/bitcoin-reserve-genialer-schachzug-oder-kostspielige-fehlentscheidung] Knowledge Bite Alexander (English version): Alexander Bechtel: “Bitcoin Reserve: Genius move or costly mistake?” [https://alexanderbechtel.com/bitcoin-reserve-genius-move-or-costly-mistake/] Knowledge Bite Michael: European Parliament Think Tank: “Cryptomercantilism vs. Monetary Sovereignty: Dealing with the Challenge of US Stablecoins for the EU” [https://www.europarl.europa.eu/thinktank/de/document/ECTI_STU(2025)760274] BFRR E340: US vs EU: The Stablecoin Policy Divide [https://bfrr.info/us-vs-eu-the-stablecoin-policy-divide/] BFRR E346: Scaling B2B Stablecoin Payments: SAP’s Digital Currency Hub [https://bfrr.info/scaling-b2b-stablecoin-payments-saps-digital-currency-hub/] BFRR E348: From Citi Bank to Stablecoins: Tony McLaughlin’s Bold Pivot [https://bfrr.info/from-citi-bank-to-stablecoins-tony-mclaughlins-bold-pivot/] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!