Coinbase (NASDAQ: COIN) has appointed Jeff Horowitz as chief compliance officer, as the cryptocurrency exchange and wallet firm moves increasingly towards expansion into regulated markets.
Horowitz brings extensive experience to Coinbase, after a lengthy career in mainstream finance with Pershing LLC, part of the BNY Mellon Company. Formerly managing director and head of compliance at Pershing, Horowitz has also served as a banking regulator with the Federal Deposit Insurance Corporation (FDIC), and has sat on a number of high profile regulatory committees include the FINRA Compliance and Advisory Committee.
The move has been welcomed as a means of strengthening Coinbase’s compliance team, following their recent acquisition of 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
In a post on the company’s blog, Coinbase CEO Asiff Hirji described the hire as ‘incredibly valuable’ in light of Coinbase’s medium and long term strategy, saying, “Today we are delighted to announce that we have appointed Jeff Horowitz as Coinbase’s Chief Compliance Officer. Jeff joins us after spending close to 12 years at Pershing LLC, a BNY Mellon Company, one of the largest providers of brokerage custody, clearing and settlement solutions in the world.”
“From our earliest days as a company, Coinbase committed itself to being the world’s most trusted and easiest to use cryptocurrency service. Adding Jeff to our team is one more important step along this journey. His experience, vision and judgment will be incredibly valuable as we continue to expand into new markets,” Hirji said.
Horowitz’s appointment also coincides with the company’s broader approach to embracing regulation in the cryptocurrency sector, as well as exploring currently regulated markets. Hirji continued to suggest compliance will become even more important for the sector in future.
“As Coinbase—along with the cryptocurrency space as a whole—grows and matures, continued regulatory compliance across all the varying jurisdictions globally will be critical,” according to the Coinbase chief. “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.”
With over 13 million user accounts, San Francisco-based Coinbase operates in 190 countries globally.
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