Ripple CLO urges safe harbor in new stablecoin rules, Treasury set to decide

The National Cryptocurrency Association (NCA) has submitted a formal comment letter to the U.S. Treasury regarding Section 3 rules of the GENIUS Act, marking a significant step in clarifying stablecoin regulation. Stuart Alderoty, NCA President and Chief Legal Officer at Ripple , signed the document, confirming industry support for a one-hundred-percent reserve requirement for stablecoins. However, he emphasized the need for a practical approach to shield retail users from potential risks associated with regulatory changes.

Source: CoinTurk News