The FinCEN action against XRP II LLC (Ripple) took many by surprise early last month, although many in the Bitcoin community were not shocked to see an organization with such close ties to a digital token face backlash for “willful violations” of the Bank Secrecy Act (BSA) and failure to implement appropriate anti-money laundering (AML) procedures. The Chamber of Digital Commerce has been quick to gain an in-depth understanding of the action taken against Ripple Labs, and the Washington, D.C.-based trade association plans to discuss the implications of the regulatory action in a public briefing June 4th at 1 p.m. EDT. Before their briefing, the Chamber of Digital Commerce was willing to answer a few questions related to the Ripple […]
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