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Ripple's lawyer urges US Treasury to protect stablecoin holders with safe redemption and theft recovery rules.

Market News
29 Oct 2026, 21:23 WIB
Crypto Briefing
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Bullish
Ripple's lawyer urges US Treasury to protect stablecoin holders with safe redemption and theft recovery rules.

Stuart Alderoty, Ripple's Chief Legal Officer, submitted comments to the US Treasury advocating for stronger protections for stablecoin holders under the upcoming GENIUS Act rules, effective January 18, 2027. He supports the law's 100% reserve requirement but emphasizes safeguards like safe-harbor redemption periods, recovery options for stolen assets, and protections for self-custody and peer-to-peer transfers. Alderoty also highlights the importance of distinguishing software providers from custodians to ensure users retain control of their digital assets during regulatory changes. These measures aim to prevent holders from losing access to their funds if an issuer faces compliance issues or shutdowns.

Ripple's XRP is trading at Rp23.299 on Pluang as of Oct 30, 2026 01:41 WIB, down 2.90% in the past day. Despite this dip, XRP maintains a substantial market cap of Rp1.488,7 trillion and a high 24-hour trading volume of Rp40,05 trillion. With 64% of its total supply circulating and a typical hold time of 72 days on Pluang, investor interest remains active amid ongoing regulatory discussions like those highlighted by Ripple's Chief Legal Officer.

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