Is Ripple a money transmitter under the FinCEN regulation? Do they have a money transmitter license?

In 2015, FinCEN fined Ripple for acting as a money transmitter and also violating various sections of the BSA (Bank Secrecy Act). WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN), working in coordination with the U.S. Attorney’s Office for the Northern District of California (USAO-NDCA), assessed a $700,000 civil money penalty today against Ripple Labs Inc. and […]

Read More

Will Ripple dominate cross border payments transfer market worldwide?

Hard to say. At the time of writing this answer, Ripple (payment network) has about 200 or so banks signed up. A pretty small number, but much more than any other alternative provider out there, that just got started in the last few years. With over 15,000 banks microfinance banks, credits unions, community banks, etc., some put […]

Read More