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1/15 #XRP interesting thread please retweet... @MrFreshTime
The 2014-2016 FinCen Investigation ended with a settlement that directly caused the growing retail and enterprise community from continuing to use the XRPL DEX, Ripple Wallet, and Ripple Trade.
The 2014-2016 FinCen Investigation ended with a settlement that directly caused the growing retail and enterprise community from continuing to use the XRPL DEX, Ripple Wallet, and Ripple Trade.
2/15
FinCen forced ripple to survey the entire XRPL and report any suspicious activity even though they had no control to stop a decentralized public network.
All because they didn’t properly comply with anti terrorist and Kyc/aml for XRP sales or transfers to Roger Ver who was
FinCen forced ripple to survey the entire XRPL and report any suspicious activity even though they had no control to stop a decentralized public network.
All because they didn’t properly comply with anti terrorist and Kyc/aml for XRP sales or transfers to Roger Ver who was
3/15
a shareholder of Ripple.
2 years FinCen investigated with investigators who had barely any knowledge of his DLT and crypto Networks operated.
Resulting in small fine and settlement. But what is rarely discussed is harsh negative effects on the community and XRPL gateways
a shareholder of Ripple.
2 years FinCen investigated with investigators who had barely any knowledge of his DLT and crypto Networks operated.
Resulting in small fine and settlement. But what is rarely discussed is harsh negative effects on the community and XRPL gateways
4/15
FinCen crushed 3 of Ripple’s products after settlement.
Ripple Wallet
Ripple Trade
Gatewayed support for businesses.
The community was growing at the time using non-custodial products from Ripple that allowed anyone to use XRPL with Ripple Trade App and Ripple Wallet.
FinCen crushed 3 of Ripple’s products after settlement.
Ripple Wallet
Ripple Trade
Gatewayed support for businesses.
The community was growing at the time using non-custodial products from Ripple that allowed anyone to use XRPL with Ripple Trade App and Ripple Wallet.
5/15
I believe FinCen required Ripple and all gateways to complete full KYC/AML of all users of Ripple’s “non custodial” wallet and App Ripple trade. FinCen single handily killed utility on XRPL and required ripple to monitor the XRPL with tracking and surveying tools.
I believe FinCen required Ripple and all gateways to complete full KYC/AML of all users of Ripple’s “non custodial” wallet and App Ripple trade. FinCen single handily killed utility on XRPL and required ripple to monitor the XRPL with tracking and surveying tools.
6/15
This was right before Ethereum gained global adoption.
If you read the forums from back then , The community was devastated as gateways dissolved and Ripple backed off development of any on ledger apps or wallet services or support for gateways.
This was right before Ethereum gained global adoption.
If you read the forums from back then , The community was devastated as gateways dissolved and Ripple backed off development of any on ledger apps or wallet services or support for gateways.
7/15
That impact stalled the ability for XRP community participation to dissipate and in effect there was minimal utility to as Ripple pivoted time institutionalization of RippleNet and away from building on XRPL.
That impact stalled the ability for XRP community participation to dissipate and in effect there was minimal utility to as Ripple pivoted time institutionalization of RippleNet and away from building on XRPL.
8/15
XRPL DEX continued and sine gateway hosted wallets to customers to trade XRP and any issued fiat currencies and commodities IOU’s on the XRPL. But declined year after year.
Making it seem like Ripple only focused on banks but that’s not true they had their hands tied by
XRPL DEX continued and sine gateway hosted wallets to customers to trade XRP and any issued fiat currencies and commodities IOU’s on the XRPL. But declined year after year.
Making it seem like Ripple only focused on banks but that’s not true they had their hands tied by
9/15
ignorance of regulatory agency applying laws to new tech harming the adoption of XRPL.
It’s important to know Arthur Britto said in email to BG to figure out how to make Ripple trade and ripple wallet to figure out a way to continue on offering ripple trade and wallet.
ignorance of regulatory agency applying laws to new tech harming the adoption of XRPL.
It’s important to know Arthur Britto said in email to BG to figure out how to make Ripple trade and ripple wallet to figure out a way to continue on offering ripple trade and wallet.
10/15
BG said they would not risk it and instead focus on RippleNet
Hmmmm...shortly after Britto and Shwartz founded InterLedgerFX in early 2016/2017 then changed name to Polysign Inc and raised multiple VC funding rounds in stealth mode ever since ti this day.
BG said they would not risk it and instead focus on RippleNet
Hmmmm...shortly after Britto and Shwartz founded InterLedgerFX in early 2016/2017 then changed name to Polysign Inc and raised multiple VC funding rounds in stealth mode ever since ti this day.
11/15
It’s important to understand the history of events Ripple has been through.
Then the lack of XRPL development and Ripple focusing on Banks put a bullseye on their back from rest of crypto and btc maxi’s.
It’s important to understand the history of events Ripple has been through.
Then the lack of XRPL development and Ripple focusing on Banks put a bullseye on their back from rest of crypto and btc maxi’s.
12/15
Ironically Ethereum ICO skates by unharmed, DAO attack, and 2017 booms in ETH based ICO craze.
I’m not offering an opinion just stating the facts of the events that took place. SEC paints ripple oiut much worse than reality of full events
Ironically Ethereum ICO skates by unharmed, DAO attack, and 2017 booms in ETH based ICO craze.
I’m not offering an opinion just stating the facts of the events that took place. SEC paints ripple oiut much worse than reality of full events
13/15
Britto and Schwartz went on to build an institutional grade stealth crypto bank and 3rd gen blockchain designed specifically to custody Trillions of $$$ in an even more decentralized way that over comply with regulations.
Britto and Schwartz went on to build an institutional grade stealth crypto bank and 3rd gen blockchain designed specifically to custody Trillions of $$$ in an even more decentralized way that over comply with regulations.
14/15
IMO FinCen cutting off participation on the #XRPL for 7.5b people. And incorporate an authentication and security system that will rewrite the regulations. BOE has been taking steps for years to bring code and new cryptographic primitives to pilots and accelerator programs
IMO FinCen cutting off participation on the #XRPL for 7.5b people. And incorporate an authentication and security system that will rewrite the regulations. BOE has been taking steps for years to bring code and new cryptographic primitives to pilots and accelerator programs
15/15
Ripple PoC with BoE was in coordination with MindBridge AI compliance auditor but info was deleted from Ripple and BoE websites. Only know this Bc a BTC website quoted Asheesh Burla praising AI tech with DLT.
Ripple PoC with BoE was in coordination with MindBridge AI compliance auditor but info was deleted from Ripple and BoE websites. Only know this Bc a BTC website quoted Asheesh Burla praising AI tech with DLT.
The above was courtesy of @MrFreshTime post in a private group i was asked to share. Great insight as usual and much appreciated 
