Worth reading the fine print: $RLUSD will still be issued by Ripple's NYDFS-regulated trust company.
The new national trust bank will manage the reserves, act as collateral trustee for holders and can provide digital asset custody once it opens.
So RLUSD ends up with both a state regulator and federal
@USOCC supervision.
TLDR: this is good for Ripple. And RLUSD.