Today’s Gazette has learnt that the Global Leader for Government Relations at Ripple, Michelle Bond, today declared the Legislative Lead for the Token Taxonomy Act, Ron William Hammond, a staff member of the San Francisco based startup.

As some XRP users continues to lament over the digital asset’s unyielding market value, especially around the latest release of 500 million XRP from Ripple escrow wallet, the remittance guru looks to cushion the anger of the users with the appointment of a well experience legislator as the Manager of Government Relations.

The latest move has been eyed as an important step towards excluding XRP from being classified as a security.

While Ron is known to be steeled with wealth of legislative and policy experiences, Michelle stated that the new appointee would be passing the juice of his experience unto the company to achieve success, collectively.

He added that Ripple will continue to work hand in hand with lawmakers, regulators, and partners worldwide.

Ron, who also acknowledged the appointment, displayed his excitement for the role, stating that he will be working closely with Ripple team to achieve success as he introduces his legislative experience which includes crafting the Token Taxonomy Act.

Aside leading the Token Taxonomy Act, Ron has also headed the creation of Common Sense Opportunities Act, Market Data Protection Act and Due Process Restoration Act, among others.

She was also the legislative lead for policy issues like Digital Assets, Financial Services and others.

Even though the community had been quite furious over the allegation of Ripple dumping XRP price, the new update brought euphoria into the community, with hopes that it would be a great move in convincing SEC to exclude XRP from being classified as security tokens.

While Ripple has until September 19 to respond to the latest security lawsuit filed against it and its token, Brad Garlinghouse recently assured the community that SEC will soon give its verdict about XRP classification.

Ron would be using his experience to support Ripple while facing SEC that XRP is not a security token.

The Token Taxonomy ACT

After a previous proposition in December 2018, the Token Taxonomy Act was reintroduced on April 9 by the United States House of Representative to exclude cryptocurrency away from security. The move was made to amend the Securities Act of 1933 and the Securities Act of 1934.

The reintroduction of the act depicts the rising growth and strength of digital asset markets and blockchain around the world.