Coinbase, one of the world’s largest cryptocurrency exchanges, has recently appointed Melissa Strait to its team of directors as its new Chief Compliance Officer.
In an official blog post published on Wednesday, the company stated that Strait will now handle all its compliance policies, such as the Know-Your-Customer (KYC) and Anti-Money Laundering (AML) compliance.
She will also take care of the company’s businesses with several law enforcement agencies worldwide, in areas where Coinbase operates.
This will not be a daunting task for Strait as she had recently served as the Global Head of Financial Crimes and U.S. Compliance Officer at the leading fintech company, Stripe.
She had also previously worked with Square, the American financial services company owned by Jack Dorsey, where she handled its compliance programs.
In her past roles in these two multinational companies, Strait had contributed a great deal to the two companies’ growth and built teams when regulations in the traditional financial industry were too critical.
She had led global teams that helped to implement and sustain the major compliance policies that supported millions of the world’s top companies in more than 120 countries.
Strait is also not new to the concept of cryptocurrencies. She oversaw the compliance aspects of each company’s integration with various cryptocurrency products, introducing millions of new customers to the potential of cryptocurrency.
Speaking on the appointment, Coinbase’s Chief Legal Officer, Paul Grewal, said,
” As Coinbase continues to be the bridge between the crypto-economy and the traditional financial system, implementing industry-leading compliance programs will be critical to earning and maintaining the trust of our retail and institutional customers. Melissa’s experience at the very cutting edge of fintech innovation makes her uniquely qualified to navigate the complex web of regulations to which we not only comply with but are also helping to shape.”
Coinbase believes that with her vast experience with traditional fintech companies and building teams from scratch, Strait will help boost its rapidly growing legal and compliance functions.
The company had earlier filed a Form S-1 with the U.S. SEC in December 2020 to receive regulatory approval for its intended Initial Public Offering (IPO).
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