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Ripple to become the first big blockchain firm with a dedicated global regulatory office in Washington D.C. The blockchain firm announced the expansion of its global regulatory team as part of the efforts to educate lawmakers across the globe by uniting industry leaders with global policymakers.
In addition to it, Ripple has also joined the Blockchain Association, a non-profit organization that promotes blockchain technology by empowering individuals and organizations to connect, communicate, and collaborate.
Ripple, the parent of the Ripple (XRP)trade cryptocurrency, states in the announcing post:
“Not unlike the Internet’s historic impact, blockchain and digital asset technologies have the power to engender greater financial inclusion and economic growth. To realize the full potential of these technologies though, industry leaders must come together to educate policymakers on the global impact.”
Craig Phillips, who was the former counselor to the secretary at the U.S. Treasury Department, will also be joining Ripple’s board of directors to provide deep insight on strategic regulatory policy and leadership to Ripple’s team of policymakers. He has previously worked on the development of the regulatory framework for the financial system under Executive Order 13772 (“Core Principles for Regulating the United States Financial System”) and at the Office of Critical Infrastructure Protection and Compliance Policy to improve security for the financial sector.
Ripple is additionally joining the Blockchain Association, as Michelle Bond, Ripple’s Global Head of Government Relations, will seat at the board. Bond was the former Senior Counsel at both the Securities and Exchange Commission (SEC) and the U.S. Senate Banking Committee.
The D.C. office will be led by Michelle Bond along with other members that include Sue Friedman as International Policy Counsel. She is joining Ripple from the Treasury Department. “In this role, she regularly advised and collaborated with Treasury officials on matters including international financial services regulation, investment security, and trade,” Ripple said.
Ron Hammond is also joining Ripple’s global regulatory team as Manager of Government Relations. He previously worked on the Token Taxonomy Act under Rep. Warren Davidson.
Ripple further said that the firm is excited about other members from the Blockchain Association joining the Ripple’s global regulatory team. The partnership will bridge the long gap between the industry leaders and policymakers across the globe, which further ensures the positive impact of blockchain technology and crypto on financial inclusions and economic growth.
“All countries, governments, and businesses rise together with regulatory clarity. To support the ecosystem together it’s important for continued efforts like the Blockchain Association and the collaborative discussions being held today in D.C. and abroad.”
Although Ripple is the first major crypto firm to tackle global regulation of blockchain and cryptocurrency from Washington D.C., it is not the first one to attempt local lobbying from the capital. Block.one, the parent of the EOS (EOS)trade cryptocurrency, has also recently started operating from Washington D.C. with new offices.