Permissioned Domains amendment near approval

Here's what to know about this amendment:
1) It takes the biggest excuse off the table

Right now, banks and big asset managers can't just show up on a fully open chain and start moving serious money. Not because they hate crypto, but because their world runs on rules like KYC, AML, sanctions screening, suitability, all that fun stuff.

On a public network, "anyone can interact" is a feature. For regulated firms, it's also the problem.

PermissionedDomains lets you say: this part of the network is still on-chain and transparent, but access is gated to participants who meet certain requirements. That's what makes it something institutions can actually deploy, not just interesting tech they demo at conferences.

And when institutions can deploy, capital follows. More participants, more flow, tighter spreads, more volume. Liquidity gets healthier because the pond gets bigger, not because people are yelling on Twitter.

2) It makes compliance possible without doxxing people

Institutions need to know they're dealing with eligible counterparties. But users don't want to put their identity on a public ledger forever. And honestly, they shouldn't have to.

Credentials let someone prove "I'm allowed here" without revealing the underlying details publicly. Show the bouncer your wristband. Don't hand everyone in the club your home address.

So you get a clean split:

Compliance teams get eligibility checks.

Users keep privacy.

The chain doesn't turn into a public database of personal info.

That combo is rare, and it's exactly what regulated adoption needs.

3) It's load-bearing infrastructure

PermissionedDomains isn't flashy. Nobody's going to trade it.

Stuff like a Permissioned DEX, controlled trading venues, lending rails, and other regulated DeFi building blocks need a way to define who can participate. Without that, you either keep everything fully open and institutions stay out, or you build private, walled-off systems and lose the benefits of an open network.

This amendment creates the third option. Public infrastructure, with optional compliance boundaries where needed.

It turns "The XRPL could be used by institutions" into "the XRPL can be used by institutions, without breaking the rules or sacrificing user privacy."