GENIUS Act Passage Solidifies XRP Status: Here’s H

A notable crypto commentator suggests that the GENIUS Act could attract more institutional clients to RLUSD while cementing XRP status as a regulated utility token. 

This suggestion came from the community voice “SMQKE” on X following the U.S. Senate’s passing of the GENIUS Act. As previously reported, while 68 Senators voted in favor of the bill, 30 others were against it. Yet, the bill received bipartisan support and establishes clear rules for stablecoins in the United States. 

Notably, the regulation requires stablecoin issuers to comply with rules that ensure investor protection and prevent money laundering. Specifically, the GENIUS Act mandates transparent reserve holdings and requires issuers to conduct regular audits.