#XRPETF The regulatory landscape in the United States for cryptocurrency companies is experiencing a moment of fervor. While major players like Coinbase, Circle, BitGo, and Paxos have set their sights on obtaining banking licenses, seeking to fully integrate into the traditional financial system, a question hangs in the air with the force of a breaking news headline: why does Ripple seem to be marching to a different beat?

The information, revealed by the Washington Post, has generated an interesting debate in the crypto community. It is not surprising. Seeing direct competitors actively seeking regulatory approval to operate as banks or issuers of stablecoins and not seeing Ripple in that same race raises eyebrows and generates questions.