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Ripple Opens New Office in the Heart of Washington, DC, to Educate US Lawmakers

Tue, 10/22/2019 - 15:59
Alex Dovbnya
Ripple CEO Brad Garlinghouse says that it's crucial for them to have a DC presence in order to work on "effective" crypto regulations
Cover image via www.123rf.com
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San Francisco-based cryptocurrency startup Ripple has recently made an announcement about opening a new office in Washington, DC, to educate lawmakers on the disruptive impact of crypto and Blockchain. 

Notably, Ripple has become the very first crypto company to set up a dedicated global regulatory team in the capital of the United States.

Stepping foot on Capitol Hill

Ripple CEO Brad Garlinghouse told Forbes that stepping on the DC turf will allow them to maintain a dialogue with policymakers to "figure out" how to regulate the crypto industry. 

"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.” 

Ripple’s XRP Price Is Headed for Up to 4,600 Percent Increase as Major Indicator Turns Bullish

Back in July, Garlinghouse wrote an open letter to the US Congress, urging lawmakers not to paint all cryptocurrencies with one broad brush.          

Apart from securing its physical presence on Capitol Hill, Ripple also added Craig Phillips, a deputy to US Treasury Secretary Steven Mnuchin, to the company's board of directors. Phillips's role will be instrumental in ensuring Ripple's global expansion while dealing with regulatory minefields.   

"In his new capacity as a Ripple Board of Directors member, Craig Phillips will provide counsel to Ripple’s leadership team and advise on strategic regulatory opportunities as Ripple expands its global network." 

Ripple's regulatory push doesn't stop there -- it also joined the Blockchain Association, the purpose of which is to advance the development of digital asset technologies by achieving regulatory clarity.    

Ripple’s XRP Addresses Will Be Given Risk Score to Comply with FAFT Requirements

Securing US dominance in crypto

Although the US remains the biggest crypto market, its lawmakers have been stonewalling any notable regulatory progress with countries in the likes of Switzerland getting ahead in the crypto race. 

Garlinghouse predicted that the US could cede ground to China, which, despite banning Bitcoin, is preparing to launch its own central bank digital currency

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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