- Ripple hires Congressional Assistant as its Government Relations Manager.
- Ron Hammond, who was among those who crafted the Token Taxonomy Act, will work to build the internet of value with Ripple.
Ripple News Today – This morning, Ripple announced that it has employed Ron Hammond, Congressional Assistant, to serve as the company’s Government Relations Manager. The company made this move in a bid to strengthen its relationship with the regulatory authorities and ensure that it continues to be regulatory compliant.
Ron Hammond Joins Ripple As Government Relations Manager
Yesterday, Ron Hammond, on his official Twitter handle, posted that he is now the manager of government relations for XRP’s parent company, Ripple. Hammond is the right man for the job as he was among those who crafted the Token Taxonomy Act that was aimed at excluding cryptocurrencies from securities category. The bill is also going to help the United States-based blockchain businesses flourish as it would create regulatory clarity. The post from the XRP community’s newsletter handle, XRP Daily, was as follows;
“Ripple works with more than 50 governments around the world and now somebody from the U.S. Government is managing the government relations at Ripple, which is awesome. Glad to see Ron Hammond join the team and help build the internet of value.”
Ripple has been under a lot of pressure from the entire cryptocurrency community due to regulatory concerns. You see Ripple owns more than 60% of the XRP in circulation and even if the Ripple blockchain is decentralized, some argue that Ripple still has too much control over the XRP token. The heat intensified as Ripple increased its XRP sales and the price of XRP started falling significantly against the USD.
XRP (XRP) Price Today – XRP / USD
As reported in our previous XRP news, the XRP community attempted a takeover on the 28 of August. Prominent members of the community suggested that the price of XRP was falling as a direct result of Ripple’s reckless sale of XRP tokens. In defense of the company, Brad Garlinghouse said
“XRP sales are about helping expand XRP’s utility — building RippleNet & supporting other biz building w/XRP ie Dharma & Forte. Reality is we DECREASED our sales by volume Q/Q and since then the inflation rate of XRP circulating supply has been lower than that of BTC and ETH.”
Hopefully, with Hammond on the team, Ripple will be able to get the required clarification on XRP’s security status. If the United States Securities and Exchange Commission can take a firm stance on the issue, there will be more adoption for the token.