Ripple Overtakes PACE Act Requirements with Over 50 Money Transmitter Licenses

Ripple has taken significant strides in positioning itself ahead of US legislative changes by accumulating more than 50 money transmitter licenses, surpassing the requirements set out in the proposed PACE Act.

The Payment Access to Cryptocurrency Entities (PACE) Act aims to provide a regulatory framework for digital asset companies connecting directly to Federal Reserve rails. Under the bill, applicants must secure money transmitter licenses in at least 40 states and meet other stringent criteria.

Ripple holds licensing in more than 50 states, including New York and Texas, which are known for rigorous oversight. SMQKE emphasized that this enables the company to rapidly respond to regulatory changes if the bill passes.