Crypto vs. Banks: Who Controls America’s Money? | Summer Mersinger

In this episode of Bankless, Summer Mersinger, CEO of the Block Trade Association and former CFTC commissioner, discusses the brewing battle between crypto and banks, focusing on the GENIUS Act and its implications. She explains how banks, caught "flat-footed," are attempting to relitigate the Act to prevent competition from stablecoins offering higher rewards than traditional bank deposits. Mersinger details the political landscape, highlighting the generational divide in Congress and the lobbying efforts of both the crypto industry and the established banking sector. The conversation also explores the potential for banks to adopt crypto strategies, the international implications of stablecoins, and the need for clear market structure legislation to provide regulatory certainty for the crypto industry.