USA: Ripple pays lobbyists with XRP

Posted on Tuesday , 2018-10-02 , 09:00 PM | AltCoin

In Washington D.C. The lobby is growing for Bitcoin, Ethereum & Co. A new grouping has now come together under the leadership of Ripple. Together, regulators like the US Securities and Exchange Commission want to make crypto-friendly decisions.

The name is meant to be program: The "Securing America's Internet of Value Coalition" has joined forces to bring Washington DC lawmakers together. to look at the finger - and to move it to sign crypto-friendly laws. The coalition is made up of FinTech companies from the San Francisco area. Its most prominent member is the Blockchain company and XRP creator Ripple Labs Inc. The Ripple group works with the nonpartisan lobby experts of the Klein / Johnson Group.

The focus of the lobbying is to be on the influence of the Securities and Exchange Commission (SEC) and the tax authority IRS. There is still much need for education, says Ripple co-founder and CEO Chris Larsen:
"We understand that it's really complicated, and there's a lot of misinformation out there. The good thing is that in D.C. there is a keen interest in the topic "
Larsen told Bloomberg.

Ripple is burning the issue of regulation especially under the nails. The SEC has not yet decided which category - bonds or utility tokens - the in-house XRP should fall. Should this be classified as security (ie as a security), this would result in a narrower regulatory corset than a classification as a utility token.

Ripple lets XRP jump
The grouping, which includes Ripple, Coil, Hard Yaka and PolySign, is the second of its kind in Washington D.C. At the beginning of September, a similar lobby was formed with the "Blockchain Association" - with well-known representatives such as Coinbase and Circle. At the time, it claimed to be the leading lobby for crypto questions.