Ripple, the technology and blockchain engineering group behind the XRP cryptocurrency, has hired a former political advisor to improve its lobbying efforts in Washington DC.
Ron Hammond - formerly a legislative assistant to Republican representative Warren Davidson - announced on Twitter that he had joined Ripple as manager of government relations. As part of Davidson's team Hammond led the drafting of the Token Taxonomy Act which seeks exemptions from federal securities laws for certain cryptocurrencies.
Excited to announce that as of today, I am the new Manager of Government Relations for @Ripple! Thrilled to bring all of my legislative experience, including crafting the Token Taxonomy Act, to the team. Special thanks to @michellebond111 and @s_alderoty for this opportunity!— Ron Hammond (@RonwHammond) September 3, 2019
Michelle Bond, Ripple's global head of government relations, took to her LinkedIn account to welcome Hammond to her team. She said:
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.
Class Action Lawsuits
Hammond's appointment comes as Ripple is facing several lawsuits that claim the company is selling its XRP token as an unlicenced 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".