This website uses cookies. By using this website, you agree to our Cookie Policy.
July 25, 2025
Cadwalader partner Douglas S. Mintz was quoted in a Law360 article examining the bankruptcy implications of the recently enacted GENIUS Act, which significantly alters the treatment of stablecoin issuers in insolvency proceedings.
“These are probably the most significant changes to the Bankruptcy Code since BAPCPA in 2005,” Doug said, referring to the Bankruptcy Abuse Prevention and Consumer Protection Act.
Doug also addressed the law’s treatment of the automatic stay despite excluding stablecoin reserves from the bankruptcy estate. “Congress is very explicitly applying the stay to those reserves at the outset of the case,” he said. “It’s not 100% clear why.”
The article notes that the law elevates stablecoin holder claims above even high-priority bankruptcy claims and clarifies that reserves are not property of the estate—raising concerns about administrative insolvency and operational uncertainty for debtors and trustees.
Read the full article here (subscription required).
Home |
About |
Practice |
News |
Resources |
Offices |
Careers |
Contact |
Site Map
Notices |
Security Overview |
Employees |
Attorney Advertising |
Manage your Preferences
Cadwalader, Wickersham & Taft LLP 
New York
London
Charlotte
Washington
Dublin
