Ripple will pay XRP to SAIV Lobbyist's advocacy group as legal battles continue

Ripple will pay XRP to SAIV Lobbyist's advocacy group as legal battles continue

Ripple is launching a pressure group in Washington, DC. The group called Guarantee the Internet of Value Coalition in America (SAIV), the group includes the RippleWorks Foundation, Coli, Hard Yaka and PolySign.

Each of the participants is connected to Ripple. Coli, a company that develops a digital payment solution, was set up by a former Ripple CTO. As for Hard Yaka, an investment company focused on digital resources, it has worked on developing a prepaid card that allows users to spend user balances in real time.

The pressure group is trying to influence cryptography in an environment where

"Congressional policymakers and government agencies examine new technology and struggle with regulatory regimes that need to be updated to meet the needs of this global financial transition"

according to the SAIV press release.

SAIV continued, which aims to promote a "fair and equitable Internet of Value" standard that is consistent with the rules for all major protocols, clarification of custody rules and fair and equitable IRS rules for capital gains, assets, and contributions charity ".

The group hired Klien / Johnson Group, a bipartisan pressure group that focuses on issues related to technology and financial services and boasts Oracle as one of its customers.

The executive president of Ripple noted,

"It gives them a little bit of advantage and gives them risks, and we hope that it gives them a taste of the industry in a way that hits home."

SAIV also added that it will work with government agencies and policy makers "who can help us implement these initiatives".

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