In this episode, we’re joined by Elise Soucie Watts, policy leader in digital finance and Executive Director at the Global Digital Finance (GDF).
Elise shares her journey from the FCA to shaping global policy at GDF, and explains why stablecoin regulation is about more than just rules — it’s about creating frameworks that support responsible innovation, market integrity, and global interoperability.
We explore key topics including:
A must-listen for anyone working in digital assets, payments, stablecoin policy, or regulatory strategy.
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About GDF:
GDF is a leading global members’ association offering an open innovation platform for advocating and accelerating the adoption of best practices for digital assets.
For more information, visit https://www.gdf.io/ .
Time stamps:00:00 – Intro + welcome (Elise Soucie Watts)
01:00 – Elise’s background: FCA → AFME → GDF
03:00 – What GDF does + who they work with (banks, issuers, exchanges, L1s)
05:20 – Why regulator experience matters (and how to engage regulators well)
07:40 – What “digital” means in policy: DLT, crypto, infrastructure change
09:40 – Outside Context: sci-fi, tech, and “outside context problems”
12:30 – Stablecoins + “singleness of money”: what inspired the paper
15:15 – Terra/Luna, confidence, and what regulation should focus on
17:30 – The big idea: convertibility vs “redemption at all costs”
20:20 – MiCA vs the GENIUS Act: what matters (and what’s still unknown)
23:40 – Other key regimes: UAE, Hong Kong, Singapore + competitiveness
25:10 – UK stablecoin limits: are they real, and do they make sense?
26:30 – Where regulators & industry disconnect (ETNs, ISAs + small technical choices)
28:40 – The next frontier: agentic AI + programmable payments
29:30 – Geopolitics + cross-border coordination