LMAX: stablecoin bill sets stage for FX and crypto convergence
CEO David Mercer on what the Genius Act means for markets, and where the venue’s FX business goes next
When the US Senate passed the Genius Act on June 17, establishing regulatory standards around the guardrails and oversight of stablecoins, it marked a significant step towards institutional adoption of digital asset trading.
For David Mercer, chief executive of LMAX Group, the move is also more confirmation of his belief that cryptocurrency trading will eventually converge with foreign exchange markets.
While punitive bank capital rules preclude banks from getting into most aspects of
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