‘Crushing’ regulations could drive Ripple out of US
Ripple co-founder Chris Larsen said the firm is considering moving to the U.K., Switzerland, Singapore, or Japan. Ripple is considering relocating to Europe or Asia amid growing frustration at the lack of regulatory clarity in the United States.Speaking to Fortune Magazine’s Jeff John Roberts at the Oct. 6 LA Blockchain Summit, Ripple co-founder Chris Larsen said the United States was “woefully behind” in preparing for the cryptocurrency-based next generation of a global financial system. Coupled with U.S. authorities’ policy on “regulation through enforcement” and Ripple may consider....
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Ripple Labs, the company that was expected to offer a stiff competition to Bitcoin with its Ripple (XRP) digital currency and Ripple Protocol seems to have fallen behind. Thanks to the recent crackdown by US Financial Crimes Enforcement Network (FinCEN) where Ripple was slapped with a $700,000 fine for non-compliance of regulations while operating as a money services business and selling its virtual currency. FinCEN had found that the parent company of Ripple Labs - XRP II, LLC had willfully violated the Banking Secrecy Act by not implementing effective Anti-Money Laundering (AML) program.....
XRP pundits have drawn attention to Ripple CEO Brad Garlinghouse’s comments in which he made a Bitcoin prediction of $200,000. The Ripple CEO alluded to the current regulatory landscape and how it could drive BTC to this psychological level. Ripple CEO’s Comments About Bitcoin Resurface XRP pundits COACHTY and XRP Queen drew attention to a […]
Rumors of a Ripple IPO have been swirling the crypto community for quite some time now and industry leaders are beginning to join in on the conversation. The latest comments come from Lint’s Community Director Ray Fuentes, who believes an Initial Public Offering (IPO) could be on the way. Ripple IPO Might Happen In 2024 […]
As another trading week opens up for investors, metrics for various cryptocurrencies, including the XRP price, are beginning to turn bullish once again. Amid this, there are key events that could drive the altcoin’s price toward $10 in the coming years, so here is a rundown. Ripple Settlement With The SEC Coming Out Lower One […]
The digital currency company Ripple Labs has adapted in response to recent penalties and fines by FinCEN for reportedly "willful violations" of the Bank Secrecy Act. As industry analysts have pointed out, since the violations, the company has drastically increased its anti-money laundering (AML) efforts. But this might just be the beginning of more strict regulatory actions against digital currency companies. Regulators shut down previous digital currency businesses that violated financial regulations such as Bitinstant, but Ripple Labs has escaped this fate. Many have attributed this to....