“The reserve requirements, anti-money laundering requirements, all fall neatly for RLSUD and USDC.,” Jeremy Hogan, partner at law firm Hogan & Hogan, wrote on X on Monday, pointing to issuers Ripple and Circle while echoing sentiment shared by others across the crypto community.

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Senate Banking Committee to Vote on Bipartisan 'Genius' Stablecoin Bill This Week

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The GENIUS Act would be well-suited for U.S.-based stablecoin issuers like Circle’s USDC and Ripple’s RLUSD, which already claim compliance with many of its provisions, potentially giving them a competitive advantage under the new regulatory framework

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The GENIUS Act would be well-suited for U.S.-based stablecoin issuers like Circle’s USDC and Ripple’s RLUSD, which already claim compliance with many of its provisions, potentially giving them a competitive advantage under the new regulatory framework