American blockchain payments firm Ripple Labs Inc. is making significant progress with its US Dollar-pegged stablecoin RLUSD, but concerns are rising that it might attract the attention of the US Securities and Exchange Commission (SEC). The company recently launched a dedicated website page for the RLUSD stablecoin, with its debut still scheduled for later this year.
Many members of the XRP community see the webpage launch as a milestone worth celebrating. However, there are differing perspectives on how Ripple’s relationship with the SEC may evolve from here. Some believe that the introduction of RLUSD could signal the end of Ripple’s legal issues with the regulator, while others fear it may lead to increased regulatory scrutiny on the company.
Legal practitioners, including renowned XRP advocate lawyer Fred Rispoli, have weighed in on the matter. Rispoli believes that any regulatory concerns stemming from Ripple’s launch of the USD-backed stablecoin could result in a new lawsuit, separate from the ongoing legal battle with the SEC. This highlights the numerous regulatory hurdles Ripple must navigate in its pursuit of innovation.
On a more positive note, Ripple may find support for its endeavors if the United States elects a pro-crypto leader as President. Several presidential candidates have expressed pro-crypto stances, with Republican candidate Donald Trump and Independent candidate Robert F. Kennedy Jr. vocalizing their support for cryptocurrencies. Kennedy Jr. has even proposed integrating Bitcoin into the national reserve, emphasizing its transparency and decentralized nature.
The outcome of the upcoming elections in November could play a significant role in shaping the future of Ripple’s RLUSD stablecoin. With the crypto industry gaining political attention and support, Ripple’s success with RLUSD may hinge on the regulatory environment and leadership in the United States. As the company continues to navigate legal challenges and regulatory concerns, the crypto community will be closely watching for developments in this evolving landscape.