Ripple Is Seeking Compliance With US Regulations

Ripple continues to make headlines these days due to all kinds of important achievements and bold plans.

Ripple seeks compliance with US regulations

Ripple is seeking compliance with US regulations these days.

Not too long ago, it’s been revealed that Ripple is reportedly looking to hire an expert in order to investigate and monitor the XRP Ledger and probe suspicious activities that may be taking place there.

It’s been also revealed that the person who fills Ripple’s new investigations analyst opening will be joining Ripple’s Bank Secrecy Act (BSA) compliance team, says a new available job post.

The online publication the Daily Hodl reported recently that among other responsibilities, the analyst will be required to “identify any existing gaps and make recommendations to enhance the suspicious activity reporting process and other [anti-money laundering] related controls.”

As Crypto News Flash notes, “According to the official website of the U.S. Office of the Comptroller of the Currency (OCC), BSA is a law that requires financial institutions to cooperate with regulations, supervisory activities and enforcement action to prevent and detect money laundering.”

The same online publication also notes that this law has been stablished in 1970, and it allows the OCC to conduct regular examinations of banks, federal savings associations, and others in order to ensure compliance.

It’s also important to highlight the fact that within this framework, the OCC works with the Office of Foreign Assets Control (OFAC) and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) to enforce the BSA.

All in all, Ripple is currently seeking compliance with US regulations.

We recommend that you check out the complete article in order to learn all the details about the subject.

Regarding the price of the digital asset XRP, well at the moment of writing this article, the coin is trading in the green and it’s priced at $0.240642.

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