Stablecoins are redefining how money moves across borders — but will regulation keep up?In this episode, Jan and Jón are joined by Rhys Bidder, Senior Lecturer at King’s Business School, King’s College London, and advisor to Chainlink Labs, to discuss how MiCAR, the GENIUS Act, and the UK’s evolving stablecoin framework will shape the future of digital money. Rhys has written widely on stablecoins, CBDCs, and the digital yuan, and offers a deep look at how regulatory design, market structure, and monetary sovereignty intersect in the emerging digital economy. Expect an in-depth exploration of the tension between innovation and financial stability — and how Europe, the U.S., and the U.K. are taking different paths toward the same goal: safe, scalable digital money. What You’ll Learn in This Episode MiCAR vs. GENIUS: Why the EU and U.S. are taking such different approaches to regulating stablecoins. Dollarization and policy response: How the GENIUS Act could accelerate USD dominance — and how Europe is responding  The UK’s next steps: Inside the FCA and Bank of England consultations — from redemption rules to liquidity backstops. Financial stability trade-offs: Why runs on stablecoins may look different from bank runs — and how central banks can design liquidity safety nets. Innovation pressure: How stablecoins are forcing banks and central banks to modernize — and why competition between deposit tokens, CBDCs, and stables could be healthy. Future outlook: What stablecoins will look like in five years — from on-chain HQLA to cross-chain compliance and global standards. Academic insight: Where to study if you want to do a PhD on stablecoins, DeFi, or macro-financial innovation. Guest Rhys Bidder – Senior Lecturer, King’s Business School, King’s College London; Advisor, Chainlink Labs.Rhys researches how digital money is reshaping finance and monetary systems, with a focus on stablecoins, CBDCs, and financial stability.https://www.linkedin.com/in/rhys-bidder-10157826 The Hosts Jón Egilsson is a former Chair of the Central Bank of Iceland and Co-founder of Monerium, the first company to issue fiat currency on-chain. https://www.linkedin.com/in/egilssonJan Philipp Fritsche is Managing Director at Oak Security, a Web3 cybersecurity firm pioneering research on economic and systemic risks in decentralized systems. https://www.linkedin.com/in/janf/