Ripple Issues an Important Warning for its Upcoming Stablecoin: Details

Ripple has issued an important warning regarding its upcoming stablecoin, RLUSD. The company cautioned users to be wary of fake claims that the stablecoin is already live. Last week, Ripple’s team minted over 800,000 RLUSD on XRPL and Ethereum, leading to speculation that the stablecoin had been launched. However, Ripple clarified that RLUSD is still in the private beta testing phase and is not yet available. The company urged users to stay vigilant and beware of individuals claiming to distribute RLUSD. Meanwhile, Ripple continues to face legal disputes with the US Securities and Exchange Commission (SEC), which has labeled RLUSD as an unregistered asset. This adds to the ongoing controversy between Ripple and the SEC, stemming from the SEC’s lawsuit against Ripple in December 2020. Despite recent developments in the case, there is a possibility that the SEC may appeal the ruling.