Ripple addresses RLUSD New York delay, as XRP’s growth fuels ecosystem hype
Ripple has delayed the launch of its RLUSD stablecoin due to regulatory issues with the New York State Department of Financial Services (NYDFS). The company confirmed that RLUSD will not launch until final approval is secured from NYDFS. New York's regulations require companies to obtain a BitLicense or a limited-purpose trust company charter, with only 33 firms currently licensed. Despite the delay, interest in XRP's ecosystem has surged, with XRP experiencing a 400% price increase over the past month, reaching the top three cryptocurrencies by market cap. However, XRP's price fell approximately 10% in 24 hours before recovering. The number of active accounts on the XRP Ledger has surpassed 100,000, and decentralized exchange trading activity has increased due to the rise of memecoins on the network.
