auto-fix: strip 8 broken wiki links
Pipeline auto-fixer: removed [[ ]] brackets from links that don't resolve to existing claims in the knowledge base.
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@ -37,8 +37,8 @@ Key tensions as of March 2026 include stablecoin yield restrictions (issuers can
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## Relationship to KB
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- [[genius-act-establishes-stablecoins-are-not-securities-classification-creating-first-legal-precedent-for-crypto-native-financial-instruments]] — statutory precedent for functional exemptions
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- [[genius-act-stablecoin-yield-prohibition-creates-structural-tension-between-regulatory-compliance-and-defi-economics]] — yield restriction implications
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- [[genius-act-reserve-requirements-establish-1-to-1-backing-with-cash-or-treasuries-as-statutory-standard-for-payment-stablecoins]] — reserve standards
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- [[Internet finance is an industry transition from traditional finance where the attractor state replaces intermediaries with programmable coordination and market-tested governance]] — stablecoin layer now has regulatory clarity
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- [[Living Capital vehicles likely fail the Howey test for securities classification]] — precedent for functional carve-outs from securities law
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- genius-act-establishes-stablecoins-are-not-securities-classification-creating-first-legal-precedent-for-crypto-native-financial-instruments — statutory precedent for functional exemptions
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- genius-act-stablecoin-yield-prohibition-creates-structural-tension-between-regulatory-compliance-and-defi-economics — yield restriction implications
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- genius-act-reserve-requirements-establish-1-to-1-backing-with-cash-or-treasuries-as-statutory-standard-for-payment-stablecoins — reserve standards
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- Internet finance is an industry transition from traditional finance where the attractor state replaces intermediaries with programmable coordination and market-tested governance — stablecoin layer now has regulatory clarity
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- Living Capital vehicles likely fail the Howey test for securities classification — precedent for functional carve-outs from securities law
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@ -49,12 +49,12 @@ extraction_notes: "First US crypto law signed — highest epistemic weight for r
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**Why this matters:** The GENIUS Act is the single biggest regulatory development for internet finance in the past decade. It creates the first clear lane for stablecoin infrastructure, which is Layer 1 of the internet finance stack. Stablecoin clarity reduces one entire layer of regulatory uncertainty for Living Capital — capital pools can be denominated in regulated stablecoins.
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**What surprised me:** The stablecoin yield prohibition. This creates tension with DeFi models that generate yield by deploying stablecoin reserves. If issuers can't pay interest, the "stablecoin as savings account" model is blocked — but yield may be unlocked via the Clarity Act.
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**What I expected but didn't find:** Any mention of futarchy-governed or DAO-issued stablecoins. The law assumes centralized issuers. Decentralized stablecoin issuance (e.g., DAI-type models) may need separate treatment.
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**KB connections:** Directly updates the regulatory uncertainty discussion in [[Internet finance is an industry transition from traditional finance where the attractor state replaces intermediaries with programmable coordination and market-tested governance]]. The "stablecoins are not securities" classification is relevant to [[Living Capital vehicles likely fail the Howey test for securities classification]] — if the underlying capital pool uses regulated stablecoins, one layer of classification risk disappears. Also connects to the adjacent-possible sequence in identity.md: "stablecoins establishing digital dollar equivalence" is now legally achieved.
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**KB connections:** Directly updates the regulatory uncertainty discussion in Internet finance is an industry transition from traditional finance where the attractor state replaces intermediaries with programmable coordination and market-tested governance. The "stablecoins are not securities" classification is relevant to Living Capital vehicles likely fail the Howey test for securities classification — if the underlying capital pool uses regulated stablecoins, one layer of classification risk disappears. Also connects to the adjacent-possible sequence in identity.md: "stablecoins establishing digital dollar equivalence" is now legally achieved.
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**Extraction hints:** Key claim candidate: "The GENIUS Act's stablecoin-are-not-securities classification creates the first legal precedent for distinguishing crypto-native financial instruments from securities, potentially extending to other token types through the follow-up Digital Asset Market Clarity Act."
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**Context:** This is actual law, not proposal or thesis. Highest epistemic weight possible for regulatory claims.
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## Curator Notes (structured handoff for extractor)
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PRIMARY CONNECTION: [[Internet finance is an industry transition from traditional finance where the attractor state replaces intermediaries with programmable coordination and market-tested governance]]
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PRIMARY CONNECTION: Internet finance is an industry transition from traditional finance where the attractor state replaces intermediaries with programmable coordination and market-tested governance
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WHY ARCHIVED: First US crypto law signed — directly reduces the "regulatory uncertainty is primary friction" claim's force; updates the attractor state adjacent-possible sequence
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EXTRACTION HINT: Focus on what this changes for the regulatory landscape discussion — stablecoin clarity is now ACHIEVED, shifting the primary uncertainty to token/securities classification and DAO legal wrappers
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