Ripple Makes Power Move: Mints 12M RLUSD Tokens as GENIUS Act Vote Looms

Ripple just fired a warning shot across the bow of traditional finance—minting a staggering 12 million RLUSD tokens days before Congress votes on the landmark GENIUS Act. Is this strategic positioning or a preemptive strike against regulatory uncertainty?

The timing couldn''t be more provocative. As lawmakers debate how to handle stablecoins, Ripple''s massive mint suggests they''re not waiting for permission. The message? ''Build first, ask forgiveness later''—the crypto industry''s favorite strategy when regulators start sweating.

Watch how fast DC politicians suddenly discover ''urgent concerns'' about stablecoin issuance when their banking donors start complaining. Meanwhile, Ripple''s playing chess while everyone else argues about checkers.

Ripple burned some of its RLUSD tokens in May

Ripple’s decision to mint more tokens just before the GENIUS Act vote on June 17 hints at the company’s confidence in the bill’s approval and a bullish stablecoin market.

In the last few months, the firm has consistently put effort into checking its stablecoin supply. The platform burned roughly 4 million RLUSD tokens in May, taking them out of the circulating supply. Plus, it stopped minting, striking a balance between supply and demand in the market.

The company has also been working on infusing its stablecoins on several platforms. RLUSD has already been listed on several exchanges and financial platforms, including Bitget, Gemini, and Revolut, to enhance its accessibility and utility.

The GENIUS Act’s supporters believe it would encourage stablecoin issuance

If the GENIUS Act is approved, it would set regulatory frameworks for stablecoins and help provide clarity to companies like Ripple in the stablecoin market.

If the bill wins the key vote on June 17, the bill will MOVE to the US House of Representatives, and eventually, the bill may just be passed into law.

Nic Puckrin, a crypto analyst, investor, and founder of The Coin Bureau, believes the bill would make stablecoins more mainstream and encourage more companies to venture into stablecoins. So far, Puckrin sees the stablecoin market as a duopoly, mainly controlled by Circle’s USDC and Tether’s USDT.

Puckrin commented, “Since the bill will create a clear pathway for banks and other entities to begin issuing stablecoins. We’ll likely see a flood of them rush into the market at the start.”

He added that banks are preparing to create their own tokens, and although not all will succeed, they will expand consumer choice in finding a stablecoin and issuer that fits their preferences.

Senator Bill Hagerty, who introduced the bill to the Senate, is urging his fellow lawmakers to vote on it, claiming that without regulation, stablecoin innovation will only continue internationally, excluding America, and they would fall behind in global competitiveness.

Puckrin also suggested that Congress is beginning to realize the positive effect stablecoins can have on the nation’s position in the world, as USD backs the majority of stablecoins. He thinks the GENIUS Act may be the answer the USD needs to hold on to global power.

Other bill champions have recognized that the legislation may not be perfect but believe that passing it is better than having no stablecoin regulation at all.

Bezalel Eithan Raviv, CEO of the blockchain security firm Lionsgate, shares a similar view, saying that having the bill is better than what’s currently being done.

Those opposing the bill have argued that it threatens the decentralized nature of crypto and could open the door to corruption, including regulators showing favoritism toward certain stablecoins. 

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