Blockchain

Crypto goes to Washington as Securing America’s Internet of Value Coalition launches

A group of FinTechs, including Ripple, have teamed up to form the Securing America’s Internet of Value Coalition, which will lobby US lawmakers and regulators on cryptocurrencies and blockchain technology.

“We understand this is really complicated, and there is a lot of misinformation out there. The good news is there is a lot of interest in this topic in D.C,” says Chris Larsen, Executive Chairman of Ripple. “It gives them some upside and gives them some risk. Hopefully, it gives them a taste of the industry in a way that hits home.”

At the top of Ripple’s agenda is whether XRP digital tokens are deemed securities and subject to SEC regulation. The agency has already said that Bitcoin and Ether are not.

Also in the game

The coalition also includes the independent foundation RippleWorks, Coil, Hard Yaka and PolySign. It plans to pay Klein/Johnson about $25,000 a month and 10,000 XRP. Izzy Klein, Co-founder of Klein/Johnson, said his firm would convert the XRP payment into dollars when it discloses the payments on federal lobbying forms.

The formation of the alliance comes as the Congress and SEC grapple with the kind of legal framework that should be applied to cryptocurrencies and blockchain technology. More on that here.

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.

Disqus Comments Loading...

Recent Posts

The surge of Bitcoin NFTs: Everything you should know about Bitcoin ordinals

From digital art to real-estate assets, NFTs have become a significant attraction for investors who…

2 weeks ago

MEXC Partners with Aptos to Launch Events Featuring a 1.5 Million USDT Prize Pool

Singapore, Singapore, 21st October 2024, Chainwire

3 weeks ago