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