Ripple ๐ has fired up its minting engine again, releasing 12 million new RLUSD tokens into circulation ๐ธ โ the first time since pausing in April ๐. This strategic move comes just before the critical GENIUS Act vote ๐๏ธ set for June 17, which could bring federal regulations for stablecoins ๐งพ.
โ๏ธ Strategic Timing?
Ripple seems to be boosting RLUSD liquidity ๐ง in anticipation of potential regulatory green lights. In April, they halted minting to stabilize the market and control supply ๐. The last issuance was on April 25, with two batches totaling 23M tokens. ๐งฎ Currently, 425.74M RLUSD tokens are circulating, according to CoinMarketCap ๐.
๐ฅ Token Burn in May
In May, Ripple burned ๐ฅ about 4 million RLUSD tokens to balance supply and demand โ๏ธ. The platform had paused minting entirely to fine-tune its market approach, clearly preparing for something bigger on the horizon ๐
.
๐ Expansion Across Platforms
RLUSD is gaining ground, already listed on Bitget, Gemini, and Revolut ๐ฆ to enhance access and usage. Rippleโs stablecoin strategy is unfolding just as regulators debate the future of the market ๐งฉ.
๐ The GENIUS Act: What's at Stake?
If passed, the GENIUS Act would create a regulatory framework for stablecoins in the U.S. ๐บ๐ธ Supporters say itโs a game-changer ๐ฅ thatโll give companies like Ripple more clarity and confidence to operate ๐ผ.
๐ง Expert Takes
๐น Nic Puckrin, crypto analyst & founder of The Coin Bureau, says the Act would mainstream stablecoins ๐ and open the floodgates for banks to issue their tokens ๐๏ธ.
๐น โThere will be a rush of new entries,โ he predicts, though not all will survive โ but it will expand consumer choice ๐.
๐ฌ Senator Bill Hagerty, who introduced the bill, warns that without regulation, the U.S. will fall behind in the global crypto race ๐. โWe need to lead, not follow,โ he says.
๐งฉ Debate Continues
Not everyone is on board ๐. Critics argue it threatens cryptoโs decentralized ethos ๐งฌ and could open the door to regulatory bias ๐ง.
๐จโ๐ผ Bezalel Eithan Raviv, CEO of Lionsgate, agrees the bill isn't perfect โ but says โitโs better than nothing.โ โ
๐ Bottom Line
With the GENIUS Act vote looming โณ and RLUSD back in the spotlight ๐ฆ, Rippleโs latest move could signal renewed confidence in both regulation and the future of stablecoins ๐ช. #CardanoDebate
