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Battered and bloody... beaten and bruised... what else you got?


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From FinCEN doc, a Govt agency part of US Treasury..." FinCEN's assessment is concurrent with the USAO-NDCA's announcement of a settlement agreement with Ripple Labs and XRP II. In that settlement, the companies resolved possible criminal charges and forfeited $450,000. The $450,000 forfeiture in that action will be credited to partially satisfy FinCEN's $700,000 civil money penalty...."

It's a currency AT BEST as per Treasury/DOJ 2015, created by Ripple Labs

So now 5 years later, we'll change course, and call it a Security? WTH? Ripple will have to pay the additional $250,000, if it has not already done so, and the lawyers. BG may have to pay something, and might get punched on his nose in public, but that's on him. He was receiving his bonus "currency" in XRP, right? Remember a company, legally,  (Ripple Labs and XRP II(?) is a "person", too. 

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11 minutes ago, SilverSailor said:

From FinCEN doc, a Govt agency part of US Treasury..." FinCEN's assessment is concurrent with the USAO-NDCA's announcement of a settlement agreement with Ripple Labs and XRP II. In that settlement, the companies resolved possible criminal charges and forfeited $450,000. The $450,000 forfeiture in that action will be credited to partially satisfy FinCEN's $700,000 civil money penalty...."

It's a currency AT BEST as per Treasury/DOJ 2015, created by Ripple Labs

So now 5 years later, we'll change course, and call it a Security? WTH? Ripple will have to pay the additional $250,000, if it has not already done so, and the lawyers. BG may have to pay something, and might get punched on his nose in public, but that's on him. He was receiving his bonus "currency" in XRP, right? Remember a company, legally,  (Ripple Labs and XRP II(?) is a "person", too. 

US regulators at its best!

Something can be currency AND a commodity AND a security at the same time! 

What a crazy jurisdiction to do business on <_<

Edited by JustKevStockholm
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Oh, and as an aside...I think that Ripple Labs, will receive additional "fines" and Uncle Sugar ( Uncle Sugar= U.S.= Govt = US Treasury?) will be a LARGE HODLer of XRP in 2021! Remember "Silk Road"?? Govt captured and sold all (wink,wink) their BTC??? Threw that cat in prison? BG, I'd hire some heavy outside counsel, man! JMO

Edited by SilverSailor
clarify for non US readers
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18 hours ago, SilverSailor said:

Oh, and as an aside...I think that Ripple Labs, will receive additional "fines" and Uncle Sugar ( Uncle Sugar= U.S.= Govt = US Treasury?) will be a LARGE HODLer of XRP in 2021! Remember "Silk Road"?? Govt captured and sold all (wink,wink) their BTC??? Threw that cat in prison? BG, I'd hire some heavy outside counsel, man! JMO

I dont think there are any criminal charges.. so unlikely any jail time. Fines and restrictions if it comes to that.

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just another thought, I personally don't think XRP itself is a security;

But how it is packaged by others may well be.

just looking at this

Quote

3). How a security is defined is set forth in Section 2(1) — and includes, among other things, any note, stock, bond, investment contract, put call, straddle, option, etc.

Does this put most exchanges and hedge funds etc in the firing line?

eg-  put call, straddle, option, etc

 

 

 

 

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