Update
Ripple CLO Ends Speculation on US Stablecoin Regulation
Ripple CLO Stuart Alderoty submits a comment letter to the U.S. Treasury regarding the Section 3 rules of the GENIUS Act. The letter, signed by NCA President Alderoty, proposes a compromise on self-custody and peer-to-peer (P2P) transactions, including a safe-harbor mechanism for users and legal mechanisms for the return of stolen assets. The NCA also establishes a firm line between custodial services and software developers, ensuring self-custody plus P2P transactions remain outside agency restrictions.