The coalition led by waves of hiring US lobbyists will be paid in XRP
It is expected that they will promote crypto-friendly policies
A number of companies and fintechs linked to the crypto and blockchain ecosystem are gathering to pay a pressure group that promotes a favorable legal space for this new technology. Payment protocol Ripple leads the coalition integrated by the RippleWorks Foundation; digital reel payment solutions; Hard Yaka digital investment company; and the encrypted security company PolySign. All of them, including Ripple, are based in San Francisco.
The group, called the Securing America Internet of Value Coalition (SAIV), is taking over the services of the bipartisan Klein / Johnson Group lobby, thanks to its experience in issues related to technological and financial services. They hope to encourage the issuance of a crypto-friendly framework that allows this ecosystem to grow favorably.
"We understand that this is really complicated, and there is a lot of misinformation out there … The good news is that there is a lot of interest in this topic in D.C." said Chris Larsen, executive president of Ripple.
The movement comes after the uncertainty that various US observers have about digital resources and the technology that supports them. With the volatile behavior of the encrypted market, the numerous reports of fake Initial Coin Offerings (ICOs) and their use by criminals and terrorists, these government institutions are trying to understand what kind of federal rules should apply to the crypto industry .
In this regard, the group aims to promote a set of standards for all major blockchain protocols, rational IRS regulations for capital gains, assets and charitable donations, and their vision of a "fair and equitable Internet of Value" .
An interesting thing about this news is the way the lobbyist will be paid. According to the press release, $ 25,000 per month and 10,000 XRPs will be paid, which are expected to convert to dollars once payments on federal forms of lobbying are known.
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