Ripple CHARER license receives an opposition from 7 pages from a team of credit experts star-news.press/wp

ripple Seek to achieve an American tenant’s license A big obstacle after the ICBA community (ICBA) has set a detailed opposition with the Currency Financial Office (OCC). The seven -page message is warned of the planned Stablecoin operations through Ripple National Trust Bank (RNTB) It can avoid traditional banking regulations, increase attention to compliance and consumer protection.

Ripple faces the bank rented exhibition

according to Reports From XRPBANK on X Social Media, Ripple’s aspirations to secure TRST Bank is a federal tenant for a proposed subsidiary, RNTB, has achieved sharp resistance from ICBA. In an official opposition message from seven pages addressed to Sebastian R. Astra, OCC Licensing Director, ICBA has identified a series of concerns about the potential risks it poses Ripple and banking goals.

The main objection centers in ICBA on the RNTB proposed RNTB use for the RPLE reserve management for the scheme Stablecoin, RLUSDAnd to provide associated credit services. While the National Bank of Trust is legally prevented from taking deposits, ICBA argues that RLUSD can mimic the deposit function, which may allow Ripple to overcome the applicable banking regulations.

The message also accuses Tamul and XRP of a date of non -compliance Money Laundering Requirements Securities laws. Despite the acquisition of the encryption payment company Legal victory over SECIn its message, ICBA suggested that such a busy record of organizational uncertainty requires increasing security.

ICBA has also warned that Ripple’s offer for the National CHARER BANK license can obscure the boundaries between traditional banking activities and the world of digital assets. According to the Trade Group, it could be such a step Extending the bank -like activities to the encryption sector Without supervision of Congress intended when establishing the National Bank Charter for trust.

By urging OCC to impose a strict organizational audit, ICBA indicated deep reservations about allowing a paid payment company from Blockchain such as Ripple to work under a charter linked to conservative credit management. ICBA has concluded its long opposition by saying that approval of the RTNB Charter can allow the unconventional institution to provide deposit -like services without adequate organizational supervision, which poses risks to consumer protection and the safety of the banking sector.

Wide organizational and industrial effects

Besides the specific Ripple case regarding its attempt to obtain a US tenant’s license, ICBA reflects growth Inexiity between traditional financial institutions Towards stablecoins into the outskirts of the prevailing banking. The opposition highlights a continuous discussion on whether it is Stablecoin exporters like Ripple It should be subject to the same guarantees as banks that raise the deposit, especially when their products operate similarly.

ICBA’s intermediaries indicate that allowing RNTB to work as a proposal can put a precedent that enables Fintech and other Blockchain companies to circumvent traditional banking controls under confidence banking operations. The conflict also emphasizes the organizational tension between innovation and compliance in the digital asset sector. Supporting her opposition, ICBA cited previous enforcement work done against Ripple, including US Department of Justice The condition of the Fincen, in which Crypto payment company paid a $ 700,000 penalty for its failure to register as the money services company and maintain a suitable AML program.

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