XRP Lawyer Questions Lummis About USDT Advantage in Stablecoin Bill Loophole

• XRP lawyer slams Lummis over a stablecoin bill loophole favoring Tether’s USDT.
• GENIUS Act may let offshore stablecoins dodge U.S. rules, hurting Ripple’s RLUSD.
• Lummis faces backlash for avoiding Garlinghouse, fueling Bitcoin-maxi accusations.

XRP lawyer Bill Morgan has directly confronted Senator Cynthia Lummis about a potential loophole in stablecoin legislation. The loophole could give Tether’s USDT an unfair advantage over American-issued stablecoins. Morgan’s challenge comes amid growing criticism of the Senator’s approach to cryptocurrency regulation.

Questioning Lummis’s Refusal to Meet Ripple CEO Brad Garlinghouse

Morgan questioned whether concerns over the controversial provision may be the reason Senator Lummis declined to meet with Ripple CEO Brad Garlinghouse. The XRP lawyer suggested the Senator may have wanted to avoid discussing how the loophole could benefit USDT while disadvantaging compliant American stablecoin issuers like Ripple’s RLUSD.

Is this why you didn’t want to talk to @bgarlinghouse yesterday. Did you think he may have wanted to discuss the loophole to allow USDT to have an advantage over stablecoins issued by Americ…

The post XRP Lawyer Questions Lummis About USDT Advantage in Stablecoin Bill Loophole appeared first on Coin Edition.