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Since Rosie brings a massive experience with understanding the legalities of currency and financial ecosystem,it will immensely help Ripple in its legal battle with the SEC over the alleged status of XRP as securities.
In a major development on Tuesday, May 4, San Francisco-based blockchain startup Ripple announced that the 43rd treasurer of the US shall be joining its board. Rios served under the Obama administration between 2009 to 2016.
Interestingly, the decision comes just at a time when Ripple has been fighting the legal battle with the SEC. Of course, Rios’s expertise in administrative affairs will play a crucial role here. Rios holds an extensive 30-year career and experience in public policy investment management.
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Ripple appoints a former U.S. treasurer to its board amid legal fight with the SEC CNBC 7 hrs ago Ryan Browne
Blockchain start-up Ripple said Tuesday that Rosie Rios, the 43rd treasurer of the U.S., would join its board of directors.
Ripple also hired Kristina Campbell, previously an executive at fintech firms Green Dot and PayNearMe, as its chief financial officer.
The SEC has charged Ripple and two of its executives with conducting an illegal securities offering. © Provided by CNBC Rosie Rios, now former treasurer of the United States Department of the Treasury, speaks during the annual Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 3, 2016.
Blockchain technology giant Ripple announced that it appointed Rosa Gumataotao Rios, the 43rd U.S. treasurer under former President Barack Obama, as a member of its board of directors.
What Happened: Ripple announced Tuesday that it appointed Rios to its board of directors and Kristina Campbell as the firm s chief finance officer.
CEO Brad Garlinghouse said that he expects Rios to be valuable to the firm thanks to her experience in the public and private sectors, which he said is particularly important as the industry works to define crypto’s future.
During her time as U.S. treasurer, Rios oversaw all currency and coin production activities with almost 4,000 employees and an annual budget of $5 billion.