A group of several large players in the industry of cryptocurrency and blockchain joined forces to pay for lobbyists in Washington, to the deputies of the States had adopted legislation more diplomatic to the field of blockchain and cryptocurrency.
Group companies financial technologies that joining forces will partially pay for cryptocurrency lobby. The group consists of Ripple and a few other small startups. The ad first appeared Thursday, when the coalition announced that they will hold a bipartisan lobbying group of the Klein/Johnson that focuses on matters relating to financial technology.
The group clearly feels threatened by the regulatory agencies of the United States, such as the Commission on securities and stock exchanges, which promote the suppression of ICO and fraudulent cryptocurrency projects, treating them as securities and shares, despite the fact that most consider them a special goods or digital assets.
Currently, the U.S. government contention about how best to regulate the cryptocurrency industry, trying to understand the definition of different types of cryptocurrencies, which largely relate to the investment categories of tokens ordinary tokens or goods.
The new group calls itself the American coalition for the protection of the Internet values and will provide financing for diplomatic law.
– We understand that this is the field of cryptocurrencies and blockchains lot of misinformation. But the good news is great interest of Washington in this topic – said the Ripple founder Chris Larsen, speaking about the formation of a new coalition.
The coalition will lobby to pay $ 25,000 per month in addition to 10 000 XRP that will be paid for any promotion of the bill.
Larsen said that the decision to pay us partially in bitcoin is strategic, because it gives them a part in the overall game, which puts them in a more favorable light to represent cryptocurrency XRP and legislative bodies.
– This gives them the opportunity to visit this area. I hope this will allow them to feel the industry as we are, ‘ said Larsen.
The confusion over how to categorize crypto-currencies is mainly in the fact that they simply do not fall under any regulatory law, which complicates the division of responsibilities between several US regulators, including the Commission on securities and exchanges Commission and commodity futures trading.
Recently, several American courts have also issued various decisions that caused more confusion. Most recently, the decision of the Federal district court of the United States, virtual currency should be regulated as commodities. This resolution claims that the issues related to digital currencies should be handled by the Commission on commodity futures trading, not by the Commission on securities and stock exchanges, which is good news for kriptonyte.
Despite this decision, another court issued a somewhat contradictory ruling last month. The judge’s decision, the ICO and subsequent investments received through them, shall be governed by the laws on securities established by securities Commission and stock exchanges.
– The purpose of Congress in adopting the securities laws was to regulate investments, in whatever form they may be made or by what name they may be called, the judge said
Well-established and strong lobbyists out of Washington that can help in creating a new diplomatic legislation in the field of crypto-currencies would be beneficial for the entire market, as investors increasingly look at how regulatory bodies react to foods such as Bitcoin, Ethereum and XRP.
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The message will Ripple the cryptocurrency to Fund lobby in the US appeared first on Cryptocurrency Ripple (XRP): news, course, the forecast value.