Public Key Podcast

[CHAINALYSIS PODCAST EPISODE 14] – Putting The Stability Back Into Stablecoins

Episode 14 of Public Key, the Chainalysis podcast, is here! In this episode, we talk with Caroline Hill from Circle to breakdown stablecoins, CBDCs and foreign crypto policy. 

You can listen or subscribe now on Spotify, Apple, or Audible. Keep reading for a full preview of episode 14.

Public Key Episode 14 preview: Identifying stability in stablecoins, CBDCs concerns and International policy impacting innovation

In this episode of Public Key, our host, Ian Andrews (CMO at Chainalysis) is joined by Caroline Hill, Director of Global Policy and Regulatory Strategy at Circle, who brings over seven years of US Treasury Department experience to this discussion on the regulatory regime around stablecoins, the impact of rushing to create CBDCs, and Circle’s ambition to be the most regulated stablecoin. 

The conversation highlights that not all stablecoins are created equal and touches on the epic failure of the Terra LUNA stablecoin, and how more transparency regarding reserves is needed. She also covers some of the exciting and innovative products coming out of Circle including Verite and the Euro stablecoin, EUROC. 

Quote of the episode

“And while we’d like to think that people in the United States have fair access to  financial institutions and credit. We know that’s not true. We know that there are individuals in the United States who are still unbanked. Who are still underbanked. Who are still living in the wrong zip code for certain financial services. And I think digital assets has the ability to democratize a lot of that.” ..– Caroline Hill (Director of Global Policy and Regulatory Strategy, Circle) 

Minute-by-minute episode breakdown

  • (2:15) – Caroline’s origin story going from detecting sanction evaders to innovative financial technologies helping with remittances
  • (5:45) – Why the USA financial system is fine but far from being innovative leader
  • (9:45) – Does international policy and regulation in crypto foster financial innovation 
  • (14:11) – The stability behind USDC and the use case for stablecoins 
  • (18:25) – Would CBDCs be a good idea for government, private sectors, traditional FIs and financial inclusion?
  • (23:55) – Is China weaponizing their CBDC and making mitigating sanctions evasion more difficult 
  • (25:00) –Not all stablecoins are stable and not all created equally 
  • (28:15) – How digital identity can be privacy preserving yet meet AML requirements without creating vulnerable honeypots
  • (30:10) – Conducting “follow the money” investigations with stablecoins 

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

  • Report:The Chainalysis State of Web3 Report
  • Webinar: The State of Web: Watch On Demand (with Ethan McMahon and Kim Grauer)
    • Circle Blog: Reflections on Europe’s Markets in Crypto-Assets Framework (MICA)
    • Website: Verite: Decentralized identity for crypto finance
    • Circle Blog:Circle’s newest stablecoin, Euro Coin (EUROC) is here 
  • Circle Blog: Information about Circle’s reserves and redemptions

Speakers on today’s episode

  • Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
  • Caroline Hill (Director of Global Policy and Regulatory Strategy, Circle)

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