- Ripple Extend Growth to Washington, D.C.
Owing to the numerous development going on with Ripple Inc. the company has opened a new office in Washington, D.C. in an attempt to strengthen and broaden its support for blockchain and cryptocurrency in general. The company is the first major blockchain company with a devoted global regulatory team in the US capital.
This development was made public on 22nd October 2019, Ripple stated that the new office has U.S government support and also comes with the growth of its universal regulatory team as it puts in efforts to inform policymakers on the usefulness of the technology. The office is led by Michelle bond and some members of the regulatory board.
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Ripple’s spokesperson in his speech stated, “In the U.S. and abroad, it’s important for policymakers to be armed with industry knowledge to help them shape conditions that will enable technological innovation to thrive. At Ripple, we look forward to continued conversations with policymakers and are building a team that brings a wealth of legislative and policy experience.”
Steven Mnuchin, a former aide to U.S. Treasury Secretary recently joined Ripple’s board of directors. Craig Phillip, states that the new member was brought in to bring depth to its policy leadership team and advise the team on strategic regulatory opportunities as the company develops. Some other prominent people were also added to the team, they include, Ron Hammond, a former legislative assistant to Rep. Warren Davidson and Susan Friedman, a senior adviser to CFTC Chairman Heath Tarbert.
Prominent. Policymakers Signed as Board of Directors for the D.C Office
Garlinghouse also commented on how Ripple became the first blockchain company to startup in DC, he states that: “I can’t speak to what other companies are doing, but Ripple has welcomed conversations with regulators and governments from the beginning – we sat on the Federal Reserve Faster Payments Task Force, are part of the IMF’S Fintech Advisory Board, hosted a summit for central banks to learn about blockchain and we continue to engage with 50+ governments worldwide – and establishing an office here is a natural extension of that work”
Ripple has been inducted as a member of the Blockchain Association, an industry body for blockchain technology that aims at building relationships between firms creating distributed solutions and Government.
Brad Garlinghouse spoke on the essence of a physical presence in DC, he went thus: “Every Federal regulator is looking at this space and trying to figure out how to regulate it, and having a DC a dialogue 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”