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Details on the GENIUS ACT • Would establish a regulatory framework for some U.S. dollar-backed stablecoins — first of its kind • J.D. Vance says the Trump administration doesn't see stablecoins as a threat to the U.S. dollar — "It's quite the opposite" • Could potentially set a precedent...

145,669 次观看 • 1 年前 •via X (Twitter)

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Now that the GENIUS act is in the home stretch, there’s a lot of talk on what stablecoin is compliant. Is it $xrp/ripple/RLUSD? Nope Is it $usdc/circle? Nope Is it $tether? Nope It’s $tel(Telcoin) Telcoin is uniquely well-positioned under the proposed GENIUS Act due to its Digital Asset Bank Charter granted by Nebraska under the Transactions in Digital Assets Act (LB649). This codified state law explicitly authorizes the issuance and management of digital assets, including stablecoins, by chartered entities. Importantly, the GENIUS Act stipulates that only “state-qualified issuers” operating within states that have adopted a formal, legislative framework for digital assets will be eligible to issue compliant stablecoins. Nebraska’s statute clearly meets that federal requirement, giving Telcoin a clear and defensible legal pathway toward national regulatory compliance. In contrast, RLUSD, issued by Standard Custody & Trust and overseen by the New York Department of Financial Services (NYDFS), operates under a regulatory regime based on guidance rather than statute. Although NYDFS published stablecoin guidance in 2022 — mandating 1:1 reserves, auditability, and redemption rights — New York has not enacted a specific stablecoin law. That distinction matters: under the GENIUS Act, regulatory guidance alone may not satisfy federal requirements if it lacks the backing of an enacted state statute. This leaves RLUSD in a gray area of compliance, dependent on whether federal regulators view NYDFS’s oversight as sufficiently robust. The same regulatory uncertainty applies to Circle’s USDC, which is primarily issued under various state money transmitter licenses and a limited-purpose trust charter from NYDFS. Circle has advocated for federal legislation and cooperates with regulators, but like RLUSD, it lacks a foundation in a state statutory framework for digital assets. As with RLUSD, USDC’s path to GENIUS Act compliance hinges on whether its existing regulatory structure will be recognized as equivalent to the Act’s “state-qualified issuer” standard — a significant unknown. In summary, Telcoin’s operations under a legislative charter place it in a stronger position than both RLUSD and USDC under the GENIUS Act. Where others depend on discretionary recognition of regulatory guidance, Telcoin operates on the basis of codified law — a key distinction that could define future leadership in the U.S. stablecoin market.

BZ

31,932 次观看 • 1 年前

Ripple Breaks Ground in the UAE, as RLUSD Becomes the First U.S. 🇺🇸 Stablecoin Approved Under DFSA 🇦🇪Framework Ripple has officially become the first blockchain company to have its stablecoin RLUSD approved by the Dubai Financial Services Authority (DFSA) for use within the prestigious Dubai International Financial Centre (DIFC). This marks a historic inflection point in the evolution of global stablecoin regulation and sets a bold precedent for the industry. For the first time, a U.S. dollar-backed stablecoin is fully licensed under a Gulf state’s comprehensive virtual asset regulatory regime, unlocking real world use cases across the Middle East’s most advanced financial sandbox. RLUSD can now be integrated into Ripple’s DFSA approved payment infrastructure, as well as deployed by banks, fintechs, and asset managers operating in the DIFC. The UAE, particularly Duba, has positioned itself as a forward thinking digital finance hub, balancing innovation with regulatory oversight. With this approval, RLUSD becomes a compliant liquidity vehicle in a region increasingly looking to bypass outdated correspondent banking systems. It can now power real estate tokenization; as seen with the Dubai Land Department, crossborder payments, merchant settlements, and enterprise treasury flows, all while leveraging XRPL Ripple’s regulatory win sends a powerful message to global players “the path forward isn’t through avoidance, it’s through alignment.” As the UAE becomes a proving ground for regulated stablecoin deployment, other jurisdictions may follow suit, especially those seeking to integrate blockchain without surrendering compliance. This raises the bar for all stablecoin issuers. RLUSD isn’t algorithmic, opaque, or dependent on walled off ecosystems, it’s interoperable, regulated in both the U.S. (via NYDFS) and Dubai, and deeply embedded in XRP Ledger infrastructure. It now stands as the gold standard for stablecoins used in institutional grade finance. RLUSD is the on-ramp. XRP is the engine. As RLUSD flows into corridors like UAE - India, UAE - Africa, and UAE - Europe, XRP becomes the bridge asset to handle illiquid pair conversions and global net settlement. Every RLUSD transaction that hits an exotic corridor where the stablecoin lacks liquidity is an invitation for XRP to step in and close the gap via On-Demand Liquidity (ODL) and decentralized market making. As real estate, commodities, and government-backed tokenization schemes roll out across the jurisdiction XRP gains transactional volume, liquidity demand, and regulatory tailwinds. The DeepFreeze amendment and compliance frameworks coming online only reinforce XRPL’s role as the programmable settlement layer for tokenized finance. SMQKE had shown that 5400 currencies have been issued on the XRPL

Mr. Man

86,031 次观看 • 1 年前