This Odd Lots podcast episode features an interview with Austin Campbell, CEO of WSPN USA, a stablecoin issuer, discussing the crypto industry's response to the new Trump administration and its implications for regulation. The hosts and Campbell explore the uncertainty surrounding crypto regulation, particularly concerning the definition of securities and the Howey Test. Campbell argues that regulatory clarity, even if not ideal, is preferable to the current ambiguous situation and that the industry desires a principles-based approach focused on economic substance. He predicts that the entire euro-dollar market could shift to stablecoins over the next 20 years, citing increased efficiency and standardization as key drivers. Finally, Campbell cautions against the pursuit of a strategic Bitcoin reserve, warning of potential government overreach and control.
