Ripple Appoints New Chief Financial Officer & Board Director Amid SEC Legal Battle
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Ripple Labs has appointed Kristina Campbell and Rosie Rios as the company’s new Financial Chief Officer (CFO) and board director respectively. The move is expected to help the company to better handle its current legal dispute with the Securities and Exchange Commission (SEC)
Kristina Campbell has several years of experience in the Fintech industry, occupying the position of CFO at PayNearMe for about 5 years and working as General Manager for the GoBank project at Green Dot Corporation.
Campbell referred to her appointment by stating:
“Digital asset technology allows us to rethink and improve the systems and infrastructure around how money moves. With this technology, we will make the global financial system accessible to all. Ripple is uniquely positioned to improve global payments in ways that have yet to be defined and I’m excited to be a part of that solution.”
The Harvard and Stanford graduate will be in charge of helping the company by setting the company’s financial strategy at a time when their legal dispute with the SEC has caused companies like MoneyGram to break ties with it.
Former Treasurer of the United States Joins Ripple’s Board of Directors
Rosie Rios, who served as the 43rd Treasurer of the United States from 2009 to 2016, has joined Ripple’s board of directors according to a press release published by the company.
With over 40 years of experience in public policy and investment manager, Rios is expected to play a crucial role in how the company navigates its current litigation with the SEC.
The former treasurer referred to how Ripple could revolutionize financial inclusion by stating:
“I’ve dedicated my career to financial inclusion and empowerment, which requires bringing new and innovative solutions to staid processes. Ripple is one of the best examples of how to use cryptocurrency in a substantive and legitimate role to facilitate payments globally. Blockchain and digital assets will underpin our future global financial systems. Cryptocurrency is the what. Ripple is the how.”
Rios’ career focused on economic development, urban revitalization, and real estate finance, which allowed her to be awarded the Hamilton Award, the highest honor that the United States Treasury can bestow
Ripple’s CEO, Brad Garlinghouse, shared he believe that Rios will be an essential part of the companies future as crypto regulation continues to develop in the world’s largest economy.
SEC’s Enforcement Chief Resigns Shortly After Appointment
Alex Oh, who was appointed as the Enforcement Director in January of 2021, stepped down from the position due to “personal reasons” days after being appointed, according to an SEC statement on April 29th.
The role of Acting Director of the Division of Enforcement. will be covered by Melissa Hodgman, who occupied the position from January to April of 2021.
Oh has been in private practice for over two decades before her SEC appointment, the time at which she represented Exxon Mobil Corp in a case in which the company was accused of supporting torture and murder in Indonesia.
Earlier on Monday, U.S. District Court Judge Royce criticized the conduct Oh and other members of the defense displayed during the trial, which prompted her to resign from her new position. She referred to her resignation by stating:
“A development arose this week in one of the cases on which I worked while still in private law practice. I have concluded that I cannot address this development without it becoming an unwelcome distraction.”
Mellisa Hodgman’s role at the SEC will surely have an impact on future developments regarding crypto regulations in the United States at a time when the agency has shown an increasing interest in actively taking action against crypto projects, as well as defining what constitutes security when it comes to digital assets.
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