Coinbase hires compliance officer while SEC appoints crypto czar
Coinbase, the San Francisco-based cryptocurrency exchange, has hired a regulatory compliance specialist to steer it through the complex legal framework that digital currency companies face across their operations.
Jeff Horowitz, the company’s newly-appointed chief compliance officer, formerly worked as global head of compliance for Pershing, a subsidiary of Bank of New York Mellon.
Committed to compliance
The appointment, Coinbase said, reflected its commitment to compliance, recognising that maturing companies in the sector would need a stronger approach to compliance as their operations expand across differing regulatory landscapes.
In a company blog, chief operating officer Asiff Hirji said Horowitz’s “experience, vision and judgment will be incredibly valuable as we continue to expand into new markets, and add new services such as Coinbase Custody and our recently announced acquisition of a licensed broker-dealer”.
He added that as the cryptocurrency space grows and matures, continued regulatory compliance across all the varying global jurisdictions would be critical.
“Hiring Jeff is recognition on our part that navigating compliance complexities on a global scale requires a concerted, cross-functional effort, guided by leaders with experience that spans policy, financial services, and corporate governance,” Hirji concluded.
In July, stablecoin operator Tether also recognised the growing need for more scrutiny by appointing Leonardo Real as chief compliance officer, particularly for his depth of knowledge in anti-money laundering risk.
SEC appoints crypto overseer
The news of Horowitz’s appointment broke just as the US Securities and Exchange Commission announced it had appointed Valerie Szczepanik to oversee the development of the cryptocurrency industry.
She said: “We want people to come talk to us. When I’m in meetings with folks, I want them to see me as someone who’s interested in communication and back and forth and looking to encourage innovation that helps investors and the markets.”