ICBA no gree with Ripple Bank Charter for di stablecoin wahala
ICBA don put seven-page objection for Ripple bank application dem give OCC, dem warn say if dem approve Ripple bank charter, e go allow Ripple National Trust Bank use im RLUSD stablecoin through XRP Ledger to imitate deposit services and waka pass Federal Reserve oversight. ICBA talk say Treasury report say up to $6.6 trillion fit shift enter stablecoins and dem mention past AML and securities compliance wahala. Dem dey ask for formal rulemaking to make regulation for stablecoin stricter inside trust banks. Dis dispute dey show bigger tension for crypto and traditional banking join body and fit become example for future fintech bank charter applications.
Bearish
ICBA no go gree ripul bank charter dey bring regulatory wahala for XRP and RLUSD, e fit make traders no too dey happy. For short time, dis bad news fit put pressure for XRP price because dem dey fear say dem go tighten stablecoin regulations and bank charter approval fit delay. For long run, even though better supervision fit make compliance and institutional trust strong, the first thing wey go happen na say e go dey negative as traders dem dey adjust their positions with the increase regulatory risk.