SEC v. Ripple Labs, Inc. et al. case.

On 3 March 2021, Ripple Chris Larsen filed motion to dismiss U.S. Securities and Exchange Commission case over #XRP sales. Larsen’s lawyers contend the SEC failed to show that Larsen knew at the time XRP units were securities and Ripple’s activities were inappropriate. To back this up, they refer, among other things, to the fact that the U.S. Department of Justice and Dept of the Treasury/Financial Crimes Enforcement Network considered and regulated XRP as a “virtual currency”; a fact inconsistent with it being a security.

The question is: does FinCEN regulate or allow the use of alternative currencies in the US, other than USD?

Negative.

Author: Litesand

Antitrust, real estate, e-commerce, fintech, proptech, bigtech

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