Stablecoins after GENIUS and CLARITY - Insights from SEDA Experts
- SEDA Experts
- 6 days ago
- 3 min read
August 2026
In this issue, we examine how the emerging U.S. regulatory framework for stablecoins may drive disputes concerning reserves, redemption rights, yield structures, bank funding, custody, and insolvency risk. We also introduce a new five-part series by SEDA Expert Kenneth Simmons exploring how AML lookbacks can go beyond remediation to strengthen governance, improve control effectiveness, and help financial institutions prepare for evolving regulatory risks. You’ll also find a case update on SEDA Expert Craig Coben’s contribution to successful High Court litigation involving the development and financing of an intellectual property investment business, together with the latest news on our experts and introductions to the newest additions to our ever-growing roster of accomplished practitioners.
FEATURED INSIGHTS
Stablecoins After GENIUS and CLARITY
SEDA Expert Mark McKendry examines how the emerging U.S. stablecoin framework is likely to drive disputes over reserve quality, redemption rights, yield structures, bank funding, custody and insolvency risk.
The Regulatory Reset: Remediation to Resilience in a Changing AML Environment
SEDA Expert Kenneth Simmons launches a five-part series exploring how AML lookbacks can go beyond remediation to strengthen governance, improve control effectiveness, and help financial institutions prepare for evolving regulatory risks.
CASE UPDATES
SEDA Expert Craig Coben Contributed to Successful High Court Litigation
SEDA Expert Craig Coben was engaged on behalf of a publicly listed investment fund in High Court proceedings concerning the development and financing of an investment business focused on intellectual property assets.
EXPERTS IN THE NEWS
Kathryn Porter spoke at the International Energy Credit Association conference in Valencia about the challenges of maintaining grid stability as wind and solar generation expand.
Dawn Stump moderated a prediction markets panel at the Options Industry Conference, covering topics including event-contract regulation, the SEC-CFTC jurisdictional divide, retail suitability, market manipulation risks, and the growing role of prediction markets as a risk-transfer and information tool.
Matt Sekerke co-authored a Wall Street Journal op-ed on the challenges of shrinking the Fed’s balance sheet and unwinding quantitative easing. As Matt notes, “Shrinking the Fed’s balance sheet requires a sober look at the unrealized losses looming in the Fed’s portfolio and the potential market impact of unwinding that portfolio. Provided these are acknowledged and budgeted for, a dedicated institution can manage the wind-down, allowing the Fed to operate a more conventional monetary policy.”
Craig Coben, co-authored a Financial Times Alphaville article discussing whether SpaceX, Anthropic, and OpenAI could become the next major AI-driven market leaders, potentially challenging the dominance of the Magnificent Seven.
Dr. Scott Susin authored a new report for the Center for Mortgage Access on state equal-treatment laws for manufactured homes, analyzing differences in manufactured housing adoption and discussing the role of local zoning practices, enforcement, and financing conditions. He also published a related opinion piece in Governing exploring manufactured housing’s unrealized potential.
Dr. Fidelio Tata authored an article exploring SpaceX through the lens of financial options, discussing how the company’s value may reflect not only current cash flows, but also its exposure to future space-related markets.
Howard Yaruss, in a recent piece for Vital City, examined Zohran Mamdani’s proposal for City-backed grocery stores in New York City, discussing its implications for food affordability, public spending, small businesses, and local grocery competition.
NEW HIRES
SEDA continues to expand its Energy & Commodities practice. We are excited to introduce:
Alastair McIntyre is an expert in mining, and precious and base metals markets. He has extensive experience across metals banking and trading, physical and derivative metals transactions, mine development, royalty transactions, off-take and metal loan agreements, capital raising, M&A, IPO advisory, and technical and financial due diligence.
Liz Martin has over 25 years of experience in the oil, gas, and LNG sectors, with expertise across trading, refining, operations, chemicals, upstream strategy, and market economics. She has developed a deep understanding of global energy markets through senior roles at BP Integrated Supply & Trading and through advisory and board-level positions.
Barry Bednar is a maritime and commodity markets expert with over 35 years of experience in tanker shipping, chartering, freight derivatives, and freight risk management. He has extensive experience across physical shipping markets, spot and term chartering, Forward Freight Agreements, Baltic Exchange route assessments.
Dipl.-Ing. Wenzel Schwabenland is a naval architect, marine surveyor and forensic engineer with over two decades of experience across multiple sectors of the maritime industry. His career spans technical leadership roles, casualty investigations, expert witness work, and strategic advisory for shipowners and financial institutions.
The opinions, views, and statements expressed in this digest are solely those of the individual authors and do not represent, reflect, or constitute the views or opinions of SEDA Experts.
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