Ripple spent nearly $ 700,000 lobbying on its 2020 cryptocurrency bill.

On January 26, Cointelegraph announced that Ripple Labs had spent $ 690,000 on US lobbying for 2020, but had yet to save the company from the US Securities and Exchange Commission (SEC). Ripple-funded lobbying typically focuses on current US Congressional legislation, such as the Token Classification Act and the Digital Goods Exchange Act. These laws created new rules for determining whether digital property is safe or secure. Key to Ripple's business model is legal certainty and crypto issues. The company has long been skeptical about the safety of XRP.