GENIUS Act Blocks Big Tech From Dominating Stablecoins: Circle Exec

The GENIUS Act contains a little-noticed clause that prevents technology giants and Wall Street behemoths from dominating the stablecoin market, according to Circle Chief Strategy Officer Dante Disparte.

“The GENIUS Act has what I’d like to call — just for my own legacy sake — a Libra clause,” Disparte told the Unchained podcast on Saturday. Any non-bank that wants to mint a dollar-pegged token must spin up “a standalone entity that looks more like Circle and less like a bank,” clear antitrust hurdles and face a Treasury Department…