Prominent pro-crypto attorney John E. Deaton responded on X to a post by Bitcoin Archive, a digital publication focused on Bitcoin news, in which the outlet referenced a report by The Wall Street Journal.
The post stated that major cryptocurrency companies—including Coinbase, Circle, BitGo, and Paxos—are reportedly looking to apply for U.S. bank licenses or charters.
Deaton replied directly to the post, “Surprised not to see @Ripple on this list. It was a matter of time.” His comment drew attention from others in the crypto community and pointed to Ripple’s notable absence from firms seeking banking licensure. While his message did not provide additional context, it appeared to imply that Ripple is already ahead in certain regulatory efforts compared to its peers.
Surprised not to see @Ripple on this list. It was a matter of time. https://t.co/HnyZrupCTP
— John E Deaton (@JohnEDeaton1) April 21, 2025
Ripple’s Stablecoin Licensing Cited by Community Member
An X user, Chad Steingraber, replied to Deaton’s comment, “Because they already have a New York Charter License for RLUSD.” RLUSD refers to Ripple’s U.S. dollar-backed stablecoin. Steingraber’s response suggests that Ripple’s licensing progress might explain why it was not included in the group of firms reportedly seeking new banking licenses.
Supporting this, Times Tabloid reported that Ripple had secured Transmitter Licenses (MTLs) in New York and Texas. These licenses are significant in the state’s regulatory framework and allow Ripple to engage in several virtual currency activities within New York, a state known for its stringent oversight of the digital asset industry.
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Ripple’s Regulatory Standing Compared to Other Firms
The attorney’s brief post did not detail Ripple’s licensing portfolio or whether the company intends to pursue further regulatory approvals, such as a national bank charter. However, his comment emphasized the distinction between Ripple and other digital asset firms seeking such licenses.
Ripple’s existing licenses, including those granted in New York, may provide it with regulatory flexibility that other firms are now attempting to secure. Unlike companies that may still build their compliance framework, Ripple has already positioned itself as a regulated entity in key jurisdictions.
Deaton’s post highlights the evolving regulatory landscape in the United States and the strategic approaches taken by different companies to navigate it. His statement also underscores the importance of tracking who is applying for new regulatory permissions and which firms may already possess the necessary authorizations to operate within the current framework.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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