Every stablecoin issuer says it's regulated.

A money transmitter license, a state trust charter, and federal prudential supervision all qualify and carry different reserve rules, verification requirements, and outcomes if the issuer fails.

$RLUSD was built for the stricter reading of that word: a limited-purpose trust charter, segregated reserves, and monthly independent CPA attestation with a federal supervisory layer conditionally approved on top.

Unpacking what "regulated" actually means: https://on.ripple.com/3TrbPUD