Ripple is set to attend Stablecon USA in Washington, D.C., from Sept. 9–11, just days before the closely watched Sept. 15 Senate test of the CLARITY Act. The timing underscores a regulatory split: RLUSD, Ripple’s dollar-linked stablecoin (cryptocurrency designed to track a fiat currency), already operates within state and federal frameworks, while broader rules for XRP and other crypto assets remain unfinished. RLUSD had approximately $2.40 billion in circulation as of Sept. 3, supported by about $2.52 billion in reserve assets. New York’s Department of Financial Services (state financial regulator) lists Ripple USD among stablecoins approved for issuance in New York, while Ripple says the token has segregated reserves and 1:1 dollar redemption under NYDFS requirements. The GENIUS Act established a federal framework for payment stablecoins in 2025, and regulators clarified in 2026 that qualifying payment stablecoins are generally outside securities treatment under that framework. Ripple is also pursuing banking infrastructure: the OCC (U.S. bank regulator) conditionally approved Ripple National Trust Bank in December 2025, although the charter does not yet amount to final authorization to begin operations. XRP remains subject to a separate Washington policy debate. Ripple’s litigation with the SEC has provided XRP with more U.S. legal precedent than many cryptocurrencies, but the CLARITY Act would create broader digital-asset market-structure and federal-oversight rules. Ripple expanded its permanent Washington, D.C., office in June as lawmakers debated market structure, stablecoins and payments modernization. Stablecon expects more than 2,000 attendees and 200 speakers, including FDIC (U.S. bank regulator) Chairman Travis Hill. RLUSD’s circulation has increased from roughly $700 million a year ago to almost $2.4 billion, while recent XRPL activity has also expanded alongside the stablecoin. A procedural Senate vote would not represent final passage of the CLARITY Act.