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Ripple National Trust Bank Targets Fed Access—Is RLUSD About to Go Full Scale?
Ripple has taken a decisive step toward cementing its role in the U.S. financial system with a formal application to create Ripple National Trust Bank, a federally regulated institution aimed at strengthening the foundation for its stablecoin initiative, Ripple USD (RLUSD).
Federal Trust Charter Signals Institutional Maturity
Filed with the U.S. Office of the Comptroller of the Currency (OCC) earlier this month under control number 2025-Charter-342347, Ripple’s application seeks a national trust bank charter. If approved, Ripple National Trust Bank would be headquartered in New York City at 111-119 W. 19th Street, 6th Floor, operating under charter number 25364.
Ripple is requesting trust powers, enabling the bank to offer federally supervised digital asset custody and fiduciary services. Brian Spahn, based at Ripple’s San Francisco office, is listed as the company’s point of contact for the application. The public comment period for the application runs through August 1.
Dual Licensing: RLUSD Under State and Federal Oversight
This move reinforces Ripple’s intention to implement a dual licensing model for its stablecoin RLUSD—combining state oversight by the New York Department of Financial Services (NYDFS) with potential federal regulation via the OCC.
Ripple CEO Brad Garlinghouse emphasized the strategy on X:
“True to our long-standing compliance roots, Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.”
Positioning for GENIUS Act Compliance
Ripple’s filing comes at a pivotal time as stablecoin regulation gains momentum in the United States. The GENIUS Act, recently passed by the Senate and awaiting House approval, would require stablecoins to be fully dollar-backed, subject to AML/KYC compliance, and operated under clear federal standards. Ripple’s strategic application aligns it with the upcoming regulatory framework, giving RLUSD a potential first-mover advantage under new law.
Targeting a Federal Reserve Master Account
In addition to the OCC application, Ripple’s subsidiary, Standard Custody & Trust Company, has applied for a Federal Reserve master account—a critical infrastructure move that would allow RLUSD reserves to be held directly with the Federal Reserve. This would significantly enhance the security and transparency of RLUSD’s backing and distinguish it from private-market competitors.
Garlinghouse added:
“This access would allow us to hold RLUSD reserves directly with the Fed and provide an additional layer of security to future-proof trust in RLUSD.”
Conclusion
Ripple’s application for a national trust bank charter and pursuit of Fed access represent a watershed moment in the evolution of compliant digital assets. If approved, Ripple National Trust Bank could set a new industry benchmark for regulated stablecoins, reinforcing both investor trust and systemic credibility at a time when U.S. crypto policy is undergoing rapid transformation.
@ Newshounds News™
Source: Bitcoin.com
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Trump Slaps 30% Tariffs on All Goods from EU and Mexico
In a dramatic escalation of trade tensions, President Donald Trump has announced sweeping 30% tariffs on all goods imported from Mexico and the European Union, set to take effect on August 1. The move, which follows failed negotiations with both trading blocs, has prompted immediate diplomatic backlash and threats of retaliation.
Trump’s Tariff Orders Target Migration, Drug Flow, and Trade Imbalances
The tariff announcements were made via two official letters posted on Trump’s Truth Social account. In the case of Mexico, the president cited the country’s role in facilitating undocumented migration and the flow of illicit drugs into the United States as justification. For the EU, he pointed to what he called a persistent trade imbalance with the United States.
These new measures supersede earlier tariff rates, including:
- A previous 25% tariff on Mexican goods announced earlier this year.
- A 20% tariff on EU imports implemented in April.
Goods imported under the US-Mexico-Canada Agreement (USMCA) are exempted from the new tariffs.
Wider Global Tariff Wave Hits 20+ Countries
This latest move is part of a broader tariff campaign initiated by the Trump administration. Earlier this week, the White House also announced:
- New tariffs on goods from Japan, South Korea, Canada, Brazil, and others.
- A 50% tariff on copper, targeting strategic raw materials.
These actions signal a return to Trump’s aggressive “America First” trade doctrine, focusing on repatriating supply chains, combating perceived trade inequities, and targeting nations seen as non-cooperative on U.S. economic or geopolitical interests.
International Response: EU and Mexico Push Back
The reaction from both trading partners has been swift and firm.
European Commission President Ursula von der Leyen condemned the measure and signaled the EU’s readiness to respond:
“The European Union will take the necessary steps to safeguard its interests, including the adoption of proportionate countermeasures if required,” von der Leyen stated.
Despite the threat of tariffs, she also left the door open for diplomacy, saying the bloc remains willing to “continue working towards an agreement by August 1.”
Mexico, for its part, described the tariffs as “unfair,” but has yet to announce whether retaliatory actions are forthcoming.
Geopolitical and Market Implications
These tariffs may ripple across global markets already grappling with monetary tightening, currency volatility, and geopolitical realignments.
The timing is critical—coming as the U.S. Federal Reserve faces pressure over its interest rate stance, and as emerging economies like BRICS continue their push for de-dollarization and alternative trade alliances. With inflationary pressures still a concern and commodity prices rising, the global supply chain could face renewed disruption.
Conclusion
President Trump’s latest tariff strategy represents a significant realignment of U.S. trade priorities, setting the stage for a turbulent second half of 2025. Whether these moves will achieve the administration’s goals—or spark retaliatory economic conflict—remains to be seen.
@ Newshounds News™
Source: Al Jazeera
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US Democrats Declare “Anti-Crypto Corruption Week,” Slam Trump’s Deceptive Crypto Bills
In a sharp political escalation, Democrats in the U.S. House of Representatives have declared next week “Anti-Crypto Corruption Week,” introducing legislation aimed at blocking what they describe as corrupt, pro-Trump crypto initiatives. The announcement comes as a direct rebuke to the Republican-led “Crypto Week” agenda, which includes the GENIUS Act, the CLARITY Act, and the Anti-CBDC bill.
Waters and Lynch Take Aim at Trump’s “Crypto Grift”
On Friday, Congresswoman Maxine Waters, ranking Democrat on the House Financial Services Committee, along with Congressman Stephen Lynch, unveiled the Anti-Crypto Corruption Week resolution. They accused former President Donald Trump of using crypto legislation as a vehicle for personal enrichment and political favoritism.
“These bills would make Congress complicit in Trump’s unprecedented crypto scam – one that has personally enriched himself […] all while defrauding investors,” Waters stated in an official release.
The Democratic lawmakers argue that Trump and his family have exploited crypto opportunities to extract over $1.2 billion in personal gains, all while undermining consumer protection and investor safeguards.
A Direct Rebuttal to Republican-Led Crypto Agenda
The declaration of Anti-Crypto Corruption Week is timed to coincide with Crypto Week, scheduled for the week of July 14, when several major crypto bills are expected to be debated, including:
- GENIUS Act – aimed at stablecoin regulation.
- CLARITY Act – a market structure framework for digital assets.
- Anti-CBDC Bill – designed to prohibit the Federal Reserve from issuing a digital dollar.
Democrats labeled these proposals as “dangerous,” claiming they serve the interests of crypto insiders and Trump’s inner circle, rather than average American consumers.
Democratic Amendments Seek to Block Crypto Bills
To counter what they see as predatory legislation, Democrats have proposed:
- Nearly 30 amendments to the CLARITY Act to mitigate consumer harm.
- Direct challenges to stablecoin frameworks in the GENIUS Act.
- Objections to the Anti-CBDC Bill, citing fears it will “devastate Americans’ financial lives.”
Democrats warn that the Republican push to block a U.S. central bank digital currency (CBDC) could weaken federal oversight and empower bad actors in the crypto space.
Congressman Lynch: Republicans Are “Doing the Bidding of the Crypto Industry”
In an unusually combative tone, Congressman Stephen Lynch criticized GOP leaders for backing pro-crypto policies without addressing the risks.
“My Republican colleagues are eager to continue doing the bidding for the crypto industry while conveniently ignoring the vulnerabilities and opportunities for abuse that exist in crypto,” Lynch said.
Conclusion
The Anti-Crypto Corruption Week campaign marks a new phase in the partisan battle over crypto regulation. Democrats are attempting to cast a spotlight on what they allege is Trump-era profiteering, while Republicans continue to advocate for regulatory clarity and crypto innovation.
With the GENIUS, CLARITY, and Anti-CBDC bills poised for House consideration, the coming weeks could prove decisive for the future of digital asset policy in the United States.
@ Newshounds News™
Source: Coinpedia
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