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FinCEN Fines Ripple Labs $700K in First Enforcement Action Against Cryptocurrency

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 recently against Ripple Labs Inc. and its whollyowned subsidiary, XRP II, LLC (formerly known as XRP Fund II, LLC). According to FinCEN, Ripple...
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