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Offline robrigo

Ripple fined $700,000. Is BitShares in the clear?
« on: May 05, 2015, 10:46:25 PM »

FinCEN fines Ripple $700,000 for violating AML / KYC compliance and failing to register as a money services business when XRP is issued.

Because we are a community (not a company  8)), and the AGS were donated, does that allow BitShares to fly under the radar?

http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/
http://www.fincen.gov/news_room/nr/html/20150505.html

Offline Akado

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Re: Ripple fined $700,000. Is BitShares in the clear?
« Reply #1 on: May 05, 2015, 11:10:53 PM »
I believe AGS were specifically donations to avoid these kind of problems, if im not mistaken.
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Offline Riverhead

Re: Ripple fined $700,000. Is BitShares in the clear?
« Reply #2 on: May 05, 2015, 11:12:07 PM »
I believe AGS were specifically donations to avoid these kind of problems, if im not mistaken.


And PTS was returned before the end of 2014.

Offline Ander

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Re: Ripple fined $700,000. Is BitShares in the clear?
« Reply #3 on: May 06, 2015, 11:16:11 PM »
Yeah.  Literally everything the team did in the last two months of 2014 was aimed at making themselves safe from this kind of thing.
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