RT Brad Garlinghouse (@bgarlinghouse)True to our long-standing compliance roots, @Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.Earlier in the week via @StandardCustody, we also applied for a Fed Master account -- while Congress is working towards clear rules and regulations, and banks (in a far cry from the years of Operation Chokepoint 2.0) are leaning in ...

We're speaking with the SEC chairman Paul Atkins and we're thrilled to have him at the table. I have a question because about insider trading, an issue that the SEC has always sort of oversaw, but there hasn't been a huge number of insider trading cases uh in recent years. I mean, not not big famous ones, but there's this whole crypto industry that is not really regulated.And I'm curious what you think of that, which is to say that there's lots of people doing things. And I the reason I mentioned this is th ...

Market Dynamics & Regulatory Landscape - Public markets have long been discussed for their benefits, but private markets also hold many companies, leading to the idea of public access to private markets [2] - The IPO market, once a primary way for companies to raise capital, has been overshadowed by robust private markets due to capital availability and impediments to being a public company [4][5] - The SEC aims to make IPOs more attractive by addressing red tape and impediments, with a focus on improving disclosure to make it more understandable and less driven by potential lawsuits [8][9] Investor Access & Protection - There's a debate on whether to make being a public company more attractive or to make private markets more accessible and transparent to the public [6] - The SEC will review rules regarding accredited investors, considering tweaking them due to investor demand for private products, while ensuring investors understand the risks involved [11] - Tokenization of assets, particularly private company shares like SpaceX, is seen as an innovation, but the SEC needs to provide clear regulations to foster innovation while ensuring investor protection [2][15][17] Innovation & Efficiency - The SEC aims to provide a firm regulatory foundation for innovation and new product development, moving away from regulation through enforcement [16][17] - Tokenization and other innovations can enhance trading and holding securities, potentially leading to quicker settlement times, building upon the move to T+1 settlement [18][19] - Digitization of securities and book entry, exemplified by the DTCC, was a significant advancement, and tokenization represents the next step towards greater market efficiency [20]

Regulatory Environment & Capital Management - The Federal Reserve's stress test indicates a less onerous, less volatile, and more transparent regulatory environment for banks [3] - The stress test freed up an estimated $100 billion in capital, potentially enabling $1 trillion in loans, deals, and buybacks [3] - The Fed is considering loosening the supplementary leverage ratio (SLR), further boosting investor optimism regarding capital freedom [5] - Analysts expect the proposed SLR change to be enacted after a comment period, potentially cutting in half the extra capital banks must hold against their entire balance sheet [7][8] Stress Test Results & Implications - The recent stress test was considered the easiest in years due to banks' improved fundamental starting point [4] - JP Morgan's research suggests low trading losses in the test may reflect favorable client positioning on the shock day, with Wells Fargo and Goldman Sachs benefiting the most [4] - The street views the low trading losses as a potential anomaly this year [5] - A process is in place to average stress test results over two years, potentially reducing volatility [10] Banking Industry Outlook - The S&P bank's industry group is surging to a fresh record, driven by indications of regulatory easing [2] - Banks are poised to return more capital to shareholders through dividend hikes and buybacks, to be announced after the close [3] - Banks perceive the need for SLR reform, as holding capital against risk-free assets like treasuries discourages intervention in treasury markets [9]

🔴 #ESMA provided its advice to the @EU_Commission on the review of the #UCITS Eligible Assets Directive → https://t.co/IsBkM9iWgU✅ comprehensive assessment of the EAD’s implementation across Members States✅ proposals to ensure regulatory uniformity across jurisdictions https://t.co/FnocbwjXIP ...

Welcome to Bankless, where we explore the frontier of stable coins. On today's episode, the Genius Bill just passed in the Senate. David and I have Senator Bill Hagerty. He's one of the co-authors of the bill. He's on the episode today. David, what' you think? Yeah, Bill is uh he's bullish. Uh he he also shared with us a story of his first interaction with crypto and illicit payments and that was his first impression about crypto like way back I think it was in like 2018 2019 when he told that story it was ...

I think the immediate question is the immediacy of how quickly the bill passes to the president's desk and how you see that happening. Well, thanks, Ed. Glad to be here.So the next step here is for the House to take it up. And I think the House is considering its options, but I think we're basically at the finish line here. The House already passed a similar version of the bill called the Stables Act.And I think that we're very close here to having a bill that can go to the president's desk. There is also a ...

Regulatory Landscape & Decentralization - The industry emphasizes the need for a standardized method to measure decentralization in cryptoassets to achieve legal clarity [1] - Network science is recommended to map power distribution across validators, developers, and governance processes in DeFi [2] - Traditional finance regulations, which rely on provider-user relationships, are challenged by DeFi's code-based interactions, necessitating new definitions [2] - Decentralization in crypto is not a binary concept [5] ESG & Data Standards - The industry strongly advises aligning with MiCA's approach to ESG disclosures, linking them to the crypto-asset itself rather than the intermediary [3] - Static PDFs are deemed insufficient for ESG data due to accessibility, comparability, and update limitations [3] - Web-native formats, live dashboards, APIs, and machine-readable disclosures are proposed to reflect blockchain systems' operation for ESG data [4] - Global alignment with standards like MiCA's Delegated Regulation 2025/422 is recommended to reduce costs, avoid fragmentation, and position the UK as a leader in global crypto policy [4]

Regulatory Landscape - Senate passed a major stable coin bill with strong bipartisan support, vote was 68-30 [1] - The bill sets the rules of the road for stable coins [1] - The bill now moves to the House, where it faces questions regarding its movement [1] Legislative Differences - House version of the stable coin bill differs in terms of federal oversight and treatment of foreign issuers [2] - House aims to move stable coin legislation alongside a more complex market structure bill for digital assets [2] Market Outlook - There is momentum and willingness to finalize stable coin legislation [2]

Well, that big beautiful bill is causing a bit of a ruckus out there, as I'm sure you all know, with President Trump and Elon Musk uh having having different points of views. I think the way this is evolving is Elon, Tesla, and investors understand, are beginning to understand more and more just how much the government has control here. SpaceX has $22 billion in contracts, government contracts.Regulation will impact the transportation sector. We are hoping that the regulation for autonomous taxi platforms t ...