Ripple Hires Legal Expert Behind Token Taxonomy Act
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.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.
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.