According to XRP parent firm though, the state was chosen particularly for its proximity to the White House and the US government as a whole.
Michelle Bond is going to the head of the new office and is going to be providing knowledge regarding the blockchain and crypto to policymakers.
The whole move is in part of a bigger plan to spread awareness regarding the emerging asset classes all over the world. Washington is just a stepping stone in that regard.
Talking on the expansion, Ripple explained:
“In the U.S. and abroad, it’s important for policymakers to be armed with industry knowledge to help them shape conditions that will enable technological innovation to thrive. At Ripple, we look forward to continued conversations with policymakers and are building a team that brings a wealth of legislative and policy experience.”
This new initiative is set to be something big for the firm.
Given that Ripple is a member of the Blockchain Association, the relations between the firm and government bodies could be strengthened.
Ripple’s CEO, Brad Garlinghouse also spoke on the decision to launch an office in the capital, saying:
“Every federal regulator is looking at this space and trying to figure out how to regulate it, and having a DC presence is essential to smart and effective regulation. We’re focused on maintaining a dialogue with Washington regulators and policymakers and being a resource to the Hill allows us to be easily accessible at all times.”
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!