This episode is sponsored by NYDIG.

The President’s Working Group on Financial Markets has finally released its much-anticipated report on Stablecoins. In this episode, NLW breaks down:

• The PWG’s three major concerns surrounding stablecoins
• The significance of its recommendation that Congress legislate stablecoins 
• The reactions of the crypto community, stablecoin issuers and interested politicians 

NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.

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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit: Samuel Corum/Bloomberg/Getty Images, modified by CoinDesk.