New Ripple Led Coalition Is Working To Grind Down US Regulators
âSecuring Americaâs Internet of Value Coalitionâ is the name of the latest movement in the United States designed to help put pressure on regulators in the United States to ensure a more secure future for cryptocurrency in the US. The coalition is to be led by Ripple as well as another of other Fintech firms. The primary objective of this coalition is to spearhead emerging financial technologies, helping to enable such projects as XRP to flourish within the United States.
The coalition will be working alongside Klein/Johnson Group, a lobby group set well within the foundations in Washington D.C. Together, the coalition will work alongside Klein/Johnson to create a strong argument to pitch to regulatory bodies to ensure that they remain positive about cryptocurrency, asking the authorities to actually open up their regulations to allow the industry to grow and improve in the United States. For their services, it is alleged that Klein/Johnson will be receiving XRP payments in order to facilitate their assistance with this, at around 10,000 XRP per month, backed up by $25,000.00 per month payment.
Chris Larsen, the Executive Chairman at Ripple has spoken about the new coalition:
âWe understand this is really complicated, and there is a lot of misinformation out there. The good news is there is a lot of interest in this topic in D.C. It gives them some upside and gives them some risk. Hopefully, it gives them a taste of the industry in a way that hits home.â
What does this mean?
By having an established lobbying group working alongside a number of established fintech companies, simply put, regulators within D.C. will have to listen to any arguments proposed. All things considered, this coalition have an awful lot of power and now have direct access to the decision makers that will have an impact on the future of cryptocurrency across America.
With Ripple seemingly leading the charge, an image for a positive future within crypto is sure to be presented in the coalitions arguments. Instead of baffling the regulators with science, we expect that any arguments presented will be about the real use cases for cryptocurrency and blockchain technology and thus, will outline an exciting prospect for a crypto-savvy future, one that the United States can be a part of should they decide regulate cryptocurrency in a positive way.
Furthermore, payments in XRP can only mean one things - a new flow for XRP and some potential new investment, this can only be a good thing. Â