Hayes, along with the Seychelles-based cryptocurrency derivatives exchange’s co-founders Benjamin Delo, Samuel Reed, and head of business development Gregory Dwyer have been charged with violating the Bank Secrecy Act and conspiring to violate the Bank Secrecy Act by failing to put sufficient anti-money-laundering safeguards in place. Each charge carries a maximum penalty of five years in prison.
‘Crypto Dad’ Chris Giancarlo: XRP is not a security
The former Commodity Futures Trading Commission chair was a leading force in removing the scarlet ‘S’ from bitcoin and ether, and he remains influential. But making the same argument for XRP is weakened as his law firm works for Ripple
Former Commodity Futures Trading Commission chair and “Crypto Dad” Chris Giancarlo argued forcefully in a June 17 column that XRP is not a security but a currency under U.S. law. That’s a huge, potentially life-or-death question for Ripple.