23 October 2019 08:28, UTC

Ripple Labs opened an office in the US capital, making it the first blockchain technology company to have a regulatory team in Washington, DC, Forbes reports.

In addition to this, Ripple will join the Blockchain Association lobbying group. Also, former U.S. Treasury Officer Craig PHILLIPS was invited as an independent director. He stated:

“Ripple has made it a priority to work with regulatory bodies to develop a safe and predictable compliance environment, and I look forward to the opportunity to contribute to that effort.”

The CEO of the company, Brad GARLINGHOUSE, called this step an important stage regarding negotiations on favorable regulation of the industry. In response to the question that Ripple is the first company to boast a representative office in Washington, he said:

“I can’t speak to what other companies are doing, but Ripple has welcomed conversations with regulators and governments from the beginning – we sat on the Federal Reserve Faster Payments Task Force, are part of the IMF’s Fintech Advisory Board, hosted a summit for central banks to learn about blockchain and we continue to engage with 50+ governments worldwide – and establishing an office here is a natural extension of that work.”

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