Coinbase Appoints First-Ever Role as Chief Compliance Officer
Prospering cryptocurrency exchange, Coinbase, has recently employed Jeff Horowitz as Chief Compliance Offer for its compliance team. This being the first ever role of its kind within the crypto sphere was supposedly done as a result of the exchange gradually working its way to establishing itself as a licensed broker-dealer.
Proud to welcome our new Chief Compliance Officer, Jeff Horowitz. Jeff's experience in financial services and policy will be invaluable as we expand into new markets and continue toward our goal of being the most trusted and compliant crypto company.https://t.co/o5aYUjRuqT
— Coinbase (@coinbase) July 31, 2018
As per Coin Desk, the reason for on-boarding Horowitz is clearly based on his expertise level, as he served similar regulatory roles revolving around anti-money laundering (AML) schemes at firms like that of Pershing, Citigroup, Goldman Sachs, and Federal Deposit Insurance Corp.
Similarly, his contribution through the Financial Crimes Enforcement Network (FinCEN) and Financial Industry Regulatory Authority (FINRA) is an apt exemplary of how far he’s come as well as his invaluable knowledge on the matters.
President and COO of Coinbase, Asiff Hirji has both congratulated and prided the crypto exchange for having such a strong player take care of the regulations’ aspect of the business, adding that:
“his experience managing matters related to broker-dealer regulation, asset custodianship and AML programs makes him a uniquely qualified leader for our compliance team.”
It is believed that the appointment of such an individual also originated from the launch of Coinbase Custody, which was established as an effort to introduce institutional investors to the crypto sphere. Coinbase’s ongoing compliance by regulation is evident, as the crypto exchange also revealed that the FINRA has been supportive of its three recent brokerage firm acquirements.
Coinbase just announced that they have hired Jeff Horowitz as the new Chief Compliance Officer. He previously worked at Pershing, Citigroup, Goldman Sachs, and Salomon Brothers.
The brain drain from Wall Street continues 👊🏽
— Pomp 🌪 (@APompliano) July 31, 2018
Many announcements from @coinbase in july, new COO, no insider trading, adding new tokens, gift cards, Q2 accomplishments and custody..trying to change the narrative/add more credibility before the big push 😎🧐
— mharvey (@mharvey) July 31, 2018