Coinbase crypto exchange announced on July 31 in a blog post that finance executive, Jeff Horowitz will be joining as the Chief Compliance Officer. Coinbase mentioned that Horowitz will help the firm to navigate regulations for virtual currency companies.
Horowitz was previously working as the managing director and global head of compliance at Pershing LLC. Pershing LLC is a subsidiary of the Bank of New York Mellon Corp. The company has a reputation for handling approximately $1.8 trillion in client assets.
In its statement, Coinbase, which is one of the largest crypto exchanges in the United States, mentioned that this decision of onboarding Jeff Horowitz reflects the exchange’s commitment towards compliance. It also shows the firm’s acknowledgment of the fact that companies need seasoned teams in order to deal with regulatory requirements in different nations.
Following an explosion in virtual currency trading such as Ether and Bitcoin, regulators are now increasing their scrutiny of the cryptocurrency sector. This has prompted some responsible exchanges in the crypto sector to pay close attention to their compliance procedures and take necessary measures.
As reported by Reuters, Coinbase president and CEO said in a blog post that as the cryptocurrency space is evolving and maturing, continued regulatory compliance across all the varying jurisdictions globally will be quite critical.
Coinbase crypto exchange which considers New York Stock Exchange owner, Intercontinental Exchange Inc as an investor, has been looking forward to attracting more business from institutional investors of late. In order to achieve this, Coinbase is planning to offer services such as secure storage of cryptocurrencies and a sophisticated matching engine to its investors.
Jeff Horowitz has a rich experience of working at Goldman Sachs, Citigroup Inc, and U.S. bank regulator the Federal Deposit Insurance Corporation, prior to his Pershing position. He also has the experience of serving as a member of the Financial Crimes Enforcement Network’s Bank Secrecy Act Advisory Group.
The post Jeff Horowitz Joins Coinbase As Chief Compliance Officer appeared first on OWLT Market.
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