New numbers are revealing how Ripple is spending its money to shape blockchain and cryptocurrency regulations in the US.
Ripple spent $170,000 lobbying the American government across the first three quarters of 2019, according to the Center for Responsive Politics. The nonpartisan research tracking group secured the data from the Senate Office of Public Records and says Ripple lobbied the Executive Office of President Donald Trump.
The group, which publishes the data on its website OpenSecrets, also notes that Ripple spent a total of $450,000 on lobbying in 2018.
In October, Ripple announced that it’s opening a dedicated office in Washington, D.C. designed to tackle compliance issues facing crypto innovators in the banking industry.
And in July, the start-up took out a full-page ad in the Wall Street Journal, asking lawmakers in Congress to recognize the potential for blockchain and cryptocurrency to boost the economy and the US dollar.
The company has also hired political adviser Ron Hammond, who helped draft the Token Taxonomy Act of 2019 (H.R. 2144), which is intended to be a piece of comprehensive legislation supporting and powering businesses and innovators in the blockchain and crypto economy.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/ESB Professional
