Ripple, the company behind XRP and RLUSD, is urging financial regulators not to sacrifice the "global fungibility" of stablecoins in favor of consumer protection laws. Ripple argues that requiring stablecoins to be issued locally could undermine the benefits of blockchain technology. The company calls for regulators to allow a variety of stablecoins, including those issued overseas, to circulate freely. Ripple also suggests implementing auditing rules to ensure issuers can meet redemption requests under various scenarios. The report cites Singapore's approach of regulating overseas-issued stablecoins as a potential model for other jurisdictions.



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