Ripple Hires Legal Expert Behind Token Taxonomy Act

Blockchain payments tech provider Ripple has hired a former political adviser to assist its advocacy efforts with lawmakers in Washington, D.C.

AccessTimeIconSep 4, 2019 at 12:17 p.m. UTC
Updated Sep 13, 2021 at 11:24 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Blockchain payments tech provider Ripple has hired a former political adviser to boost its advocacy efforts with lawmakers in Washington, D.C.

In a tweet reposted by Ripple on Tuesday, the new hire, Ron Hammond, announced that he has joined the firm as its new manager of government relations.

ripple-tewwt

Hammond previously served as a legislative assistant for Rep. Warren Davidson (Republican), where he led the drafting of the "Token Taxonomy Act" – an attempt to bring in legislation giving cryptocurrencies clearer legal standing in the U.S.

The bill, first introduced last year by Reps. Davidson and Darren Soto and reintroduced in April 2019, seeks to exempt certain cryptocurrencies and other digital assets from federal securities laws.  Reps. Josh Gottheimer, Tedd Budd, Scott Perry and Tulsi Gabbard also cosponsored the 2019 version of the bill.

Michelle Bond, Ripple's global head of government relations, welcomed Hammond to the firm on her LinkedIn account, saying:

"Thrilled to announce Ron William Hammond as Ripple's Government Relations Manager! Ron brings a wealth of legislative and policy experience – excited to have him on board as we continue to work closely with lawmakers, regulators, and partners worldwide!"

Hammond's knowledge of securities legislation may well come in handy for the firm. Ripple has notably been accused in lawsuits of selling unregistered securities via the XRP token that powers one of its banking payments products.

With the U.S. also possibly moving to take a tough stance on crypto regulation, Ripple has also appealed to lawmakers not to stifle innovation by lumping all cryptocurrencies together.

In a July blog post, the firm said in an open letter to Congress:

"We urge you to support regulation that does not disadvantage U.S. companies using these technologies to innovate responsibly, and classifies digital currencies in a way that recognizes their fundamental differences—not painting them with a broad brush."

Capitol Hill image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.