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Summary
Ripple policy chief Rahul Advani warns that even as stablecoin issuer rules converge across major jurisdictions, cross-border mutual recognition of regulated stablecoins remains unresolved and could fragment the digital currency market. Speaking at an Atlantic Council panel during the IMF/World Ban…
Key points
- Businesses planning cross-border stablecoin settlement can understand that aligned issuer rules do not equal cross-border mutual recognition, and assess jurisdictional risk accordingly.
- Converging issuer rules without cross-border recognition means no compliance passport for stablecoins exists yet, so cross-border settlement designs must be handled country by country.
- Cross-border payment providers choosing stablecoins and settlement routes must confirm each country's recognition of foreign stablecoins rather than assuming MiCA or the GENIUS Act applies universally.
Editorial note
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