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Why Fintechs May Finally Beat Banks at Their Own Game: DEX in the City
Description
Banks are about to lose two of their biggest advantages: custody and payments. A new White House EO opening Fed master accounts to fintechs could be the catalyst.
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A White House executive order is pushing the Fed to open its master account system to fintechs and crypto firms, and the implications are bigger than most people realize.
Katherine Kirkpatrick Bos, Jessi Brooks, and Vy Le trace what it would mean to plug crypto directly into the core plumbing of the US dollar system, why traditional banks should be furious, and where the guardrails are missing.
They also dig into the NYT’s scathing CFTC piece and whether the snark undermines the serious allegations. Plus the SEC's delayed innovation exemption, Commissioner Hester Peirce's departure, and the White House AI EO that collapsed in eighteen hours. Jessi maps the four White House factions fighting over AI governance, and argues crypto's "don't trust, verify" model is exactly the accountability layer AI needs.
Hosts:
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Katherine Kirkpatrick Bos, General Counsel at StarkWare. Previously held senior legal roles across DeFi and centralized exchanges.
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Jessi Brooks, General Counsel at Ribbit Capital
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TuongVy Le, General Counsel at Veda
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