Ripple CEO has a 'genius' response to Dodd-Frank originally appeared on TheStreet .
As the House of Representatives passed the GENIUS Act on July 17, Ripple CEO Brad Garlinghouse compared the historic moment to the passing of "the last major financial regulation bill" in response to the 2008 global financial crisis 15 years ago.
Garlinghouse was, of course, alluding to the Dodd-Frank Wall Street Reform and Consumer Protection Act that was passed in 2010 to address the havoc caused by the 2008 financial crisis.
The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, on the other hand, aims to regulate stablecoins.
A stablecoin is a type of cryptocurrency that is pegged to a traditional currency like the U.S. dollar or a commodity like gold in order to maintain a stable value, unlike traditionally volatile cryptocurrencies such as Bitcoin .
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The legislation mandates strict stablecoin reserve, transparency, and oversight requirements within a federal framework.
As the GENIUS Act is signed into law the next day, it will cement the U.S. as a stablecoin — a "truly innovative financial technology" — leader in the future, Garlinghouse said, and thanked the bipartisan leaders who voted to pass it.
Garlinghouse anticipates trillions of dollars
Ripple is a San Francisco-headquartered blockchain tech and crypto payments company that launched RLUSD, a stablecoin pegged 1:1 to the U.S. dollar, in December 2024.
With a market cap of $517 million, RLUSD doesn't even account for the total stablecoin market cap of $260 billion.
While more than 85% of RLUSD's total circulating supply is held on the Ethereum blockchain network, barely 12% is held on XRP Ledger, Ripple's own blockchain.
The firm recently entered into a partnership with the Bank of New York (BNY), as per which the bank will act as the primary custodian for RLUSD reserves.
Garlinghouse recently said many people think it will reach $1 trillion to $2 trillion in "a handful of years."
Ripple CEO has a 'genius' response to Dodd-Frank first appeared on TheStreet on Jul 17, 2025
This story was originally reported by TheStreet on Jul 17, 2025, where it first appeared.
