- Ron Hammond has been employed to improve Ripple’s lobbying efforts in Washington DC.
- Ripple has been dealing with lawsuits accusing it of selling the XRP token as unlicensed security.
Ron Hammond recently announced on Twitter that Ripple has hired him as manager of government relations. Hammond is a former political advisor and formerly a legislative assistant to Republican representative Warren Davidson. He has been employed to improve Ripple’s lobbying efforts in Washington DC. While in Davidson’s team, Hammond led the drafting of the Token Taxonomy Act which seeks exemptions from federal securities laws for certain cryptocurrencies.
Ripple’s global head of government relations Michelle Bond welcomed Hammond to her team. She wrote on LinkedIn:
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.
Ripple appointed Hammond as the firm started to deal with several lawsuits that claim the company is selling its XRP token as unlicensed security. These include a consolidated class-action lawsuit, where one of the plaintiffs Ryan Coffey alleges that Ripple created billions of XRP tokens "out of thin air" to make quick profits. It describes the move as a "never-ending initial coin offering."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.