Cadwalader partner Peter Malyshev recently authored an article in Law360 titled "GENIUS Act Creates 'Commodity' Uncertainty For Stablecoins."

In the article, Peter analyzes the recently passed GENIUS Act's provisions that carve out payment stablecoins from the definition of "commodity" in Section 1a(9) of the Commodity Exchange Act of 1936. He compares the effect that this will have on payment stablecoins to past examples, such as the Onion Futures Act in 1958, which similarly excluded onions from the definition of commodity.

Read the full article here.