Today Ripple announced that it joined the Blockchain Association, in the same day it opened its offices in Washington, DC, becoming the first blockchain company with a dedicated regulatory team in the US capital.
According to reports, the on-demand liquidity company appears to be moving forward in terms of regulation as well, expanding its global blockchain team.
In fact, Ripple’s Global Head of Government Relations, Michelle Bond, will sit on the Board of Directors of the Blockchain Association, while former Secretary of the US Treasury Department, Craig Phillips, will be on the Board of Directors of Ripple.
Brad Garlinghouse, CEO of Ripple, commented:
“Every federal regulator is looking at this space and trying to figure out how to regulate it, and having a DC presence is essential to smart and effective regulation. We’re focused on maintaining a dialogue with Washington regulators and policymakers and being a resource to the Hill allows us to be easily accessible at all times”.
Specifically, Craig Phillips will advise Ripple’s management team on strategic regulatory opportunities in the ongoing global expansion of the Ripple network. Phillips commented on this:
“As an Independent Director, my first agenda will be to get to know the Company [Ripple] and understand its operations and strategic objectives. I was drawn to its cutting-edge technology and the quality of the current directors, senior advisors and management team, whose experience spans across technology, traditional finance, and economic policy. As a member of the board, I will be asked to provide counsel on strategic regulatory opportunities as the company continues to expand globally and establishes roots in DC”.
Michelle Blond, on the other hand, will lead the DC office, supported by several members of the global regulatory team with new members such as Ron Hammond, who previously worked on the Token Taxonomy Act under the direction of Rep Warren Davidson and Sue Friedman who joined Ripple from the Treasury Department.
Garlinghouse’s decision to collaborate and engage with regulatory institutions is a significant one, despite the fact that the crypto world is known globally for its uncertain nature.
According to Ripple, the goal of this integration is precisely to be a resource for Washington’s policymakers so that any decisions taken can be the result of clear information on the issue that serves to promote the US as a leader of financial innovation.