According to Bloomberg, Ripple will take the lead participants of the cryptocurrency market lobbying in Washington on issues related to the regulation of cryptocurrencies.
A coalition of cryptocurrency companies based in San Francisco, plans to bring the lobbying group the Klein/Johnson to work with regulators and legislators.
The new group, called Securing America’s Internet of Value Coalition, aims to mitigate the government’s position to encourage innovation and support competition in the ecosystem of the global cryptocurrency market.
The coalition, together with the lobbying group intends to raise the issues in Congress and at the securities and exchange Commission (SEC), Tax service (IRS) and other government agencies relevant to the cryptocurrency market.
According to the preliminary agreement, the lobbying group Fintech Klein/Johnson, will receive for his services for about 25,000 dollars per month and 10,000 per Ripple.
Along with the Ripple, as well as an independent company RippleWorks, the coalition includes the company specializes in digital payments Coil, crypto investment company Yaka and PolySign, a startup which operates in the market of custodial services for the cryptocurrency assets.