Crypto Support Crypto Law

Letter to Congress to support John Deaton.

In 2015, XRP became the first regulated cryptocurrency in the United States. The Department of Justice Civil Division and the Financial Crimes Enforcement Network (FinCEN) settled with Ripple, declaring XRP convertible virtual currency.

Today the SEC (Securities and Exchange Commission) is suing Ripple, claiming that their native token XRP is not virtual currency. After FinCEN declared XRP a virtual currency, forcing sales to comply with U.S. banking laws (not securities laws), foreign governments, including the U.K, Japan, Switzerland, Singapore, and the United Arab Emirates, followed suit and declared XRP a non-security.

The SEC alleges XRP itself is a security and not a virtual currency, and the SEC is now claiming that all sales of XRP are illegal. The unprecedented argument puts over 70,000 XRP in a ruinous financial position.

To learn more about the SEC lawsuit against Ripple, you can visit crypto-law.us and use the free form to contact your state senators and representatives. There is a connect to congress button for international XRP holders too.

Ripple’s native token XRP, can be used for cross-border payments, fund transfers, and other applications. Ripple is a payment network that uses the XRP to facilitate fast, cheap, and secure transactions. The company also plans to release additional products to make it easier for financial institutions to use XRP in their daily operations.

Ripple is a privately owned company based in San Francisco. It was founded in 2012 by Chris Larsen and Jed McCaleb. The company has been working with banks and other financial institutions to develop the technology behind XRP for cross-border payments.

In 2017, Ripple announced it works with over 100 banks and financial institutions globally. The company has focused on making it easier for banks to send money across borders using blockchain technology. It also plans to release additional products to make it easier for financial institutions to use XRP in their daily operations.