- Michelle Bond joined Ripple Labs, a blockchain-based mostly monetary solutions startup, to lead government affairs in June.
- Prior to joining Ripple Labs, Bond was a SEC lawyer throughout the implementation of essential worldwide reforms in the wake of the 2008 monetary crisis.
- Bond informed Small business Insider that she thinks regulation is coming to the tech business, but leaders ought to embrace it if they want to attain mainstream adoption for technologies like cryptocurrency.
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Michelle Bond understands some of the most intricate legal reforms within and out, sideways and best-down. And now she’s bringing her knowledge to Silicon Valley to assist the tech business fix its romance with Washington.
Bond joined Ripple Labs, the blockchain-based mostly monetary solutions startup behind the XRP cryptocurrency, in June to lead the company’s government relations workforce. While she’s based mostly in Washington, DC, she hopes to deliver some of Silicon Valley’s impressive spirit to the Beltway.
As a former lawyer at the Securities and Exchange Commission, Bond assisted with interpretation and implementation of the Dodd-Frank Act, 1 of the signature reforms following the 2008 monetary crisis. She explained she’s noticed the law from each and every angle — as a personal practice attorney focusing on financial policy, to doing work on the Senate Banking Committee as aspect of the SEC, and now back in the personal markets.
“The fintech space is on the cutting edge of the policy world, so this is the most exciting time for anyone involved in policy and implementation,” Bond informed Small business Insider. “It doesn’t get any better than this.”
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Bond explained that Ripple Labs isn’t going to see itself as a cryptocurrency business, even however it made a protocol for an eponymous cryptocurrency that trades under the abbreviation XRP. That token is amongst the highest-valued aside from Bitcoin and Ethereum.
The business operates a blockchain-based mostly ledger in partnership with a who’s who of legacy monetary institutions for massive monetary transactions in each cryptocurrency and fiat currency. Merely place, it truly is striving to place a a lot more respectable encounter on the cryptocurrency business, which is typically otherwise likened to the Wild West.
“As we look at the crypto market broadly, I can see why people want regulatory clarity before their institutions adopt crypto,” Bond explained.
Toddler many years
Bond joins Ripple at an inflection level in Silicon Valley’s romance with policymakers in Washington. Calls for regulation have reached a fever pitch, with execs and CEOs like Facebook executive Mark Zuckerberg and Cisco CEO Chuck Robbins starting to push for regulation. Bond thinks that wise regulation is doable if the tech superpowers and the energy brokers of Washington are in a position to set variations aside for the sake of innovation.
“Risk can be good and bad, and, look, regulation can be a risk,” Bond explained. “It’s my job to make sure we effectively work on that together.”
The SEC, for its aspect, has produced an try to have an understanding of and successfully regulate emerging technologies like cryptocurrency, Bond says. She also hopes, however, that her regulatory background will assist include some credibility to a area that some regulators are even now struggling to have an understanding of.
“We are in the toddler many years of the [fintech] business,” Bond explained. “These companies are starting to walk and talk, but we aren’t potty trained yet. The market is immature, and so regulators are playing an important role to make sure no one is getting hurt. At the same time, people will get hurt if innovation doesn’t happen.”
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