The Future of Digital Money: The Race Between the Tortoise, the Hare and the Rhino

By | July 9, 2026
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International payments remain one of the least efficient parts of the global financial system. While many developed countries now enjoy near-instant domestic payments, cross-border transactions still rely heavily on the centuries-old correspondent banking model, where funds move through chains of intermediary banks. Each step introduces delays, expense and operational frictions. As a result, international payments… Read More: The Future of Digital Money: The Race Between the Tortoise,… »

Three Mechanisms, One Policy: Monetary Sovereignty in Cross-Border Stablecoin Regulation

By | June 15, 2026
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A US-dollar-anchored stablecoin trying to operate at retail scale across the European Union, Hong Kong, and mainland China runs into three legally dissimilar instruments: a transaction cap, a professional-investor gate, and an outright prohibition. Two of the three constraints bind through published text and the third operates partly through unpublished signal on the cross-border pathway.… Read More: Three Mechanisms, One Policy: Monetary Sovereignty in Cross-Border Stablecoin Regulation »

Why the OCC’s Stablecoin Charter Push Is Illegal, Dangerous, and Likely to End in Bailouts

By | May 21, 2026
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Since Congress enacted the Guiding and Establishing National Innovation for U.S. Stablecoins Act, better known as the GENIUS Act, the Office of the Comptroller of the Currency has seen a flood of applications from crypto firms seeking national trust bank charters. Stablecoin issuers, crypto exchanges, custody firms, and fintech payment companies are all racing to… Read More: Why the OCC’s Stablecoin Charter Push Is Illegal, Dangerous, and… »

The Crypto Industry Wants America to Become the Bahamas

By | May 13, 2026
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Tomorrow, the Senate Banking Committee will hold a markup on its portion of a cryptocurrency market structure bill. The markup was originally scheduled for January but was postponed the night before after Coinbase CEO Brian Armstrong publicly withdrew his support for the legislation on X. One of the most common arguments advanced in support of… Read More: The Crypto Industry Wants America to Become the Bahamas »

Datafication is the Necessary Precondition for Genuine Sustainable Finance

By | October 15, 2025
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Since the 2016 Paris Agreement, the 2018 EU Sustainable Finance Action Plan and the 2019 EU Green Deal, the EU has worked to transform the real economy by redirecting financial flows towards sustainable development. We argue in our recently published article that generating, aggregating, and disclosing sustainability data are core to the EU Sustainable Finance… Read More: Datafication is the Necessary Precondition for Genuine Sustainable Finance »

The “Crypto Asset” Event in Turkish Law

By | September 19, 2025
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Technological advancements affecting the financial system through various channels have led to changes in the functioning of activities conducted through centralized systems. The use of Distributed Ledger Technology (DLT), which enables the operation and use of distributed ledgers -information repositories where records of transactions are kept by all parties in a distributed manner rather than… Read More: The “Crypto Asset” Event in Turkish Law »

Crypto is Everything Everywhere All at Once

By | September 4, 2025
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After Republicans regained control of Congress and the White House in the last election, the crypto industry—having contributed substantial sums to campaign efforts—moved aggressively to advance its legislative agenda. Its first win came with the GENIUS Act, which established a federal framework for issuing stablecoins. But the real prize is market structure legislation, which would… Read More: Crypto is Everything Everywhere All at Once »

The Global Impact of the Financial Crisis

By | September 2, 2025
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When the United States housing bubble burst in 2007, it triggered a chain reaction that soon morphed into a global financial crisis (Financial Crisis Inquiry Commission [FCIC], 2011). Problems initially concentrated in U.S. subprime mortgages quickly spread to multiple regions through cross-border investments, complex derivatives, and strained interbank lending. As credit markets seized, banks around… Read More: The Global Impact of the Financial Crisis »

Bitcoin’s Political Orphanhood: Stablecoins and Shifting Demand in the Post-GENIUS Act Era

By | July 25, 2025
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The passage of the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act, 2025) represents a watershed moment in American cryptocurrency regulation, establishing the first comprehensive federal framework for payment stablecoins while conspicuously omitting Bitcoin from its regulatory purview. This selective regulatory approach has profound implications for the digital asset ecosystem, fundamentally altering… Read More: Bitcoin’s Political Orphanhood: Stablecoins and Shifting Demand in the Post-GENIUS… »