Coinbase, a top-ranked cryptocurrency exchange has announced in a blog post that Jeff Horowitz, a man with almost thirty years of experience in the financial industry will be the company’s first chief compliance officer.
In the confirmatory post, Asiff Hirji, President, and COO of Coinbase highlights an important reason why hiring a compliance officer will be crucial for the company’s global expansion plans.
He wrote, “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.”
Jeff Horowitz held the office of managing director and global head of compliance at Pershing LLC, a financial services company based in New-Jersey. Horowitz also held high-level positions at world-class investment companies like Goldman Sachs, Lehman Brothers, and Citigroup.
“His experience, vision, and judgment will be incredibly valuable as we continue to expand into new markets,” Coinbase on new CCO Horowitz
His role at Coinbase right now is an entirely new office (Chief Compliance Officer), one that would have looked odd in the industry a couple of months ago. At the moment, though, crypto exchanges who are planning global expansion cannot do without a qualified leader for this role.
Looking Into The Future
Coinbase is prioritizing global regulatory compliance as one of its strong points and seems to have captured the right man in Jeff Horowitz. He is also reported to have held the role of chief compliance officer and global head of anti-money laundering (AML) and compliance programs at Pershing LLC.
With global cryptocurrency regulation likely not to happen soon, Coinbase understands that ensuring regulatory compliance across the different world regions where the company serves will be crucial to its growth.
These are already happy times for the US-based exchange who also in this month was welcomed back to Google and Facebook Ad networks. Aside from acquiring a licensed foreign exchange broker in July, CEO Brian Armstrong also made Forbes list of “40 under 40.”
Looking beyond the present, Coinbase has made an appointment that may be crucial as it aims to lead the global list of top cryptocurrency exchanges.
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