Recent setbacks in U.S. legislation regarding crypto regulation have not hindered Ripple from advancing its initiatives and expanding its presence in the global market.
Setback in U.S. Crypto Regulation
On July 15, the U.S. House of Representatives voted down a key procedural resolution that could have advanced three major crypto-related bills. The voting led to the defeat of proposals concerning stablecoin regulation and market structure. Some Republican representatives sided with Democrats, temporarily halting active discussions on crypto regulation.
Ripple's Progress on the International Stage
Despite uncertainty in the U.S., Ripple continues to make strides forward. Existing programs are already successfully operating in countries like Palau, Bhutan, Montenegro, and Colombia, where pilot projects are utilizing Ripple's CBDC infrastructure.
Advantages of RLUSD and XRP
The launch of Ripple's stablecoin RLUSD in 2024 will further enhance the company’s strategic advantage. RLUSD is already operational, supporting fast settlement and transactions. This offering is ideal for institutions waiting on regulatory clarity. XRP also plays a pivotal role in Ripple's liquidity framework, providing necessary infrastructure even amidst uncertainty.
Ripple demonstrates that technological advancements can occur independently of legislative barriers, positioning XRP and RLUSD strongly in the digital asset market.
