Discover and read the best of Twitter Threads about #RippleCredits
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UNDISPUTED FACTS TIMELINE ADDITIONS
2012: Perkins Coie (the same law firm that helped write ✍️ Hinman’s #Ether Free Pass Speech) informed @chrislarsensf #RippleCredits (aka #XRP) IS NOT a security;
The 2012 memo warned Larsen there was a risk under the Bank Secrecy Act (BSA);
2012: Perkins Coie (the same law firm that helped write ✍️ Hinman’s #Ether Free Pass Speech) informed @chrislarsensf #RippleCredits (aka #XRP) IS NOT a security;
The 2012 memo warned Larsen there was a risk under the Bank Secrecy Act (BSA);
The 2012 legal memo 📝 stated that the law firm’s “analysis has never been tested by FinCEN in practice, and therefore reliance thereon is not without risk”;
The Perkins Coie 📝 was spot on b/c in:
2015: FinCEN sued @Ripple claiming it had violated the BSA;
The Perkins Coie 📝 was spot on b/c in:
2015: FinCEN sued @Ripple claiming it had violated the BSA;
FinCEN’s suit against Ripple was the first civil enforcement action against a cryptocurrency industry player - a case of true first impression in the industry;
Ripple settled paying 700K and agreed to comply w/ NON- SECURITIES regulations;
Ripple settled paying 700K and agreed to comply w/ NON- SECURITIES regulations;
