The last major financial regulation bill was passed 15 years ago in response to the 2008 financial crisis.
Tomorrow, the signing of the GENIUS Act cements the US’s future in being a leader in truly innovative financial technology – stablecoins. This moment is a historic one, and I, for one, am looking forward to all that is to come as a result of this transformational legislation.
Thank you to the bipartisan leaders that got it done – @RepFrenchHill, @GOPMajorityWhip, @CongressmanGT, @RepAngieCraig, @RepDustyJohnson, @RepDonDavis, @RepBryanSteil, @RepRitchie, @SpeakerJohnson, and @RepJoshG.
Launching a stablecoin is a natural step for Ripple as we bridge the gap between traditional finance and crypto. We have 1/ the years of experience 2/ regulatory footprint 3/ a strong balance sheet and 4/ a network with near global payout coverage, to offer the best of crypto-enabled payments using XRP and our (future) stablecoin together.
Ran through a lot with @sonalibasak & @kaileyleinz this AM – why we’ve been forced to rely on court decisions (not sound policy) for regulatory clarity in the US, a potential XRP ETF (!), @Ripple’s recent acquisition of @StandardCustody, and why Ripple continues to take a compliance-first mindset.
https://t.co/9Q7x19Iqbs