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	Podcast:		Law of Code
	Episode:		#174 - Crypto's market structure moment, with Bill Hughes of Consensys
	Category:		Technology
	Duration:		00:47:20
	Publish Date:		2026-02-16 10:00:00
	Description:		Crypto’s current policy window in Washington is a rare opportunity to pass market structure legislation. What happens if the industry walks away from a compromise now? Bill Hughes, Senior Counsel and Director of Global Regulatory Matters at Consensys, joins the podcast to discuss crypto market structure and stablecoin policy. Timestamps ➡️ 1:10 — Why Agriculture and Banking Committees shape crypto legislation ➡️ 4:20 — How agencies influence drafting behind the scenes ➡️ 6:40 — Stablecoin yield and illicit finance: the real sticking points ➡️ 9:20 — DeFi regulation debates ➡️ 17:00 — Is the Clarity Act likely to pass in 2026? ➡️ 18:00 — Ethics provisions and political tensions ➡️ 20:13 — Coinbase’s strategy ➡️ 26:35 — Stablecoin yield fights ➡️ 33:00 — Legislative timelines ➡️ 45:36 — What to watch next Sponsor: Day One Law, a boutique corporate law firm founded by Nick Pullman. Nick and his team at Day One provide strategic legal counsel to startups, crypto projects, and Web3 innovators. ⁠You can get in contact with them via this link⁠: ⁠⁠https://www.dayonelaw.xyz/#contact Resources:
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