📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
🎮 This round focuses on: Yooldo Games (ESPORTS)
✍️ Share your unique insights and join promotional interactions. To be eligible for any reward, you must also participate in Gate’s Phase 286 Launchpool, CandyDrop, or Alpha activities!
💡 Content creation + airdrop participation = double points. You could be the grand prize winner!
💰Total prize pool: 4,464 $ESPORTS
🏆 First Prize (1 winner): 964 tokens
🥈 Second Prize (5 winners): 400 tokens each
🥉 Third Prize (10 winners): 150 tokens each
🚀 How to participate:
1️⃣ Publish an
Ripple CEO Says Likens GENIUS Act To Major Regulation After 2008 Finanical Crisis | Bitcoinist.com
Ripple CEO Shares Take On New GENIUS Act
On July 17, the US House of Representatives passed the GENIUS Act, a legislative proposal to establish a regulatory framework for US-dollar-pegged cryptocurrencies, also known as stablecoins. Shortly after the bill’s approval, Garlinghouse took to X social media on the same day to share his thoughts
Related Reading: Ripple’s Banking License Update: Major Moves From Regulators Fan Flames Of SupportIn his post, the Ripple CEO offered a measured analysis of the GENIUS Act, drawing parallels to the wave of financial reforms that followed the 2008 economic crisis. According to Garlinghouse, it has been over 15 years since the US passed a regulatory bill of this magnitude, underscoring the significance of the GENIUS Act’s arrival at a moment when the world is rapidly embracing blockchain technology and digital assets.
With President Trump having officially signed the legislation, Garlinghouse emphasized that this new law establishes the US as a clear frontrunner in financial technology innovation—particularly in the realm of stablecoins. The Ripple CEO praised the approved bill as a “transformational” step, one that promises to deliver much-needed regulatory clarity for digital asset and firms while also boosting the confidence among institutions and consumers operating within the digital economy
Notably, Garlinghouse has expressed gratitude to a coalition of lawmakers from both parties whose leadership was instrumental in pushing the bill forward. The CEO indicated that he looks forward to how this historic legislation could reshape the dynamics of stablecoin usage, financial inclusion, and more. For Ripple and other crypto or blockchain companies operating in the US, this act could signal the beginning of a new era defined by regulatory support rather than uncertainty
A crypto analyst identified on X as “All Things XRP” has highlighted the implications of the GENIUS Act on Ripple’s stablecoin, RLUSD. Unlike previous regulatory efforts that have struggled to define crypto assets, the GENIUS Act cuts through the ambiguity by offering a clear and supportive framework for stablecoin issuers backed 1:1 by the US dollar.
Related Reading: Ripple CEO Wants To Take Over SWIFT’s Customers — Centrals Banks Tap InIn the case of Ripple’s RLUSD, the crypto analyst argues that the newly approved bill positions it advantageously, allowing it to capitalize on all key pillars of the legislation, including regulatory compliance, dollar-backing, and cross-platform interoperability. By anchoring RLUSD’s value to US Treasuries and placing it under a federal umbrella of legal clarity, the GENIUS Act creates a fertile environment for mainstream adoption of the Stablecoin.