The Financial Crimes Enforcement Network (FinCEN), working in coordination with the U.S. Attorney’s Office for the Northern District of California (USAO- NDCA), assessed a $700,000 civil money penalty today against Ripple Labs
Ripple Labs willfully violated several requirements of the Bank Secrecy Act (BSA) by acting as a money services business (MSB) and selling its virtual currency, known as XRP, without registering with FinCEN
Y como colofón: “Ripple Labs will also undertake certain enhancements to the Ripple Protocol to appropriately monitor all future transactions.”
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¿Todavía quedan dudas de por qué la descentralización y Bitcoin es el camino?
Ripple no está descentralizado y esta es la prueba. De un día para otro les obligan a adaptar el protocolo ni más ni menos. Con Ripple lo han tenido fácil, espero ansioso el día que vayan a por bitcoin u otras.
According to FinCEN, “In January 2014, a Malaysian-based customer sought to purchase XRP from [Ripple Labs], indicating that he wanted to use a personal bank account for a business purpose.”
HOLY JIHAD BATMAN!!! Someone wanted to use a personal bank account for business purposes!!! NUKE THE SON OF A BITCH!
I mean, seriously. This is the complete nonsense that keeps financial bureaucrats up at night: some guy in Malaysia wants to buy digital currency with his personal funds.
Whoop-dee-doo.
But what’s really wild is that Ripple actually DENIED the transaction. They just didn’t file the SAR.
So… even though Ripple didn’t actually ENGAGE in said ‘suspicious activity’, failing to file the SAR (with the appropriate TPS report cover sheet) was enough to land them in hot water.
End result — Ripple was dinged with a $700,000 fine.