XRP Not Mentioned on This List, Popular Lawyer Reacts

Several top cryptocurrency firms are reportedly seeking U.S. bank licenses, signaling a new wave of regulatory ambition within the digital asset industry. According to Bitcoin Archive, Coinbase, Circle, Paxos, and BitGo are among the companies looking to secure federal banking charters to expand their legal and operational reach.

Attorney John E. Deaton, a well-known supporter of XRP and vocal figure in crypto legal circles, responded directly to the report on X. He expressed surprise over Ripple’s absence from the list, stating, “Surprised not to see Ripple on this list. It was a matter of time.”

His comment immediately caught attention among XRP supporters, many of whom began speculating on Ripple’s existing regulatory position. The mention highlighted Ripple’s strategic direction and potential advantages in regulatory compliance.

Surprised not to see @Ripple on this list. It was a matter of time. https://t.co/HnyZrupCTP

— John E Deaton (@JohnEDeaton1) April 21, 2025

Also Read: Teucrium CEO Reveals Why They Chose XRP to Launch a 2X Leveraged ETF

Ripple’s Existing Licenses Offer a Different Regulatory Path

In response to Deaton’s remark, an X user named Chad Steingraber pointed to Ripple’s licensing achievements as a reason for its omission. He referenced Ripple’s RLUSD stablecoin, which is supported by a New York Charter License. This license enables Ripple to operate within the state’s strict financial guidelines.

Additionally, Ripple holds Money Transmitter Licenses in both New York and Texas. These state-level approvals are vital, particularly in jurisdictions known for their strict cryptocurrency regulations.

Ripple’s early focus on acquiring these licenses may explain why it is not currently seeking a federal bank charter. The company appears to have established regulatory standing in key states, providing it with flexibility that others may now be pursuing through national licenses.

Industry Reactions Reflect Broader Regulatory Shift

Deaton’s brief but pointed observation has reignited discussions about Ripple’s regulatory strategy compared to its competitors. While several crypto firms are now moving toward federal recognition, Ripple’s actions suggest it prioritized building compliance at the state level first.

The opposing regulatory strategies generate conflict about which process will stand out as being more effective under increasing regulatory oversight.

The crypto industry faces split opinions regarding whether companies will perform better by securing federal charters or if state-level licensing provides equivalent advantages in the growing U.S. cryptocurrency market.

Ripple has not officially revealed its intention to acquire a national banking license yet its current business strategy appears to be shaping the path towards this goal. The regulatory foundation created by the company may give it an advantage during future industry transformations due to heightened compliance requirements.

Also Read: Ripple-SEC Case Dismissal Likely to Still Delay Despite Atkins Swear-In, EX-SEC Lawyer Opines

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