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The former counselor to Secretary of the Treasury Steven Mnuchi, Craig Phillips, has joined Ripple's board of directors, the official press release states.

Phillips has reportedly more than 35 years of experience, having held key roles at financial institution Morgan Stanley and BlackRock. Phillips has also supported the development of policy for housing finance reform, the press release states.

Ripple CEO Brad Garlinghouse claims Craig’s appointment to the board further "affirms Ripple's commitment to working with policymakers - bringing experience developing regulatory frameworks, enhancing cybersecurity and overseeing innovation and risk management in the financial system."

"This is an exciting time for Ripple as the blockchain industry at-large faces increased attention from regulatory bodies around the world, and we couldn’t be more thrilled with Craig’s decision to help further our vision," Garlinghouse added.

Phillips will provide counsel to Ripple’s leadership team and lead strategic regulatory opportunities.

Earlier iHodl reported that Ripple opened a new office in Washington D.C. in an attempt to foster its relationship with regulators.

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