Coinbase, the leading cryptocurrency exchange in the United States and one of the biggest in the world has appointed financial mastermind Jeff Horowitz as the companies new Chief Compliance Officer (CCO). This is the first time Coinbase have appointed a CCO and makes a new phase of alignment for the company. As Coinbase want to ensure they cement themselves as a viable and important cryptocurrency exchange for the future, they are developing a sturdy plan that will ensure they fall in line with future regulations that are being established by governments and authorities both within the United States and worldwide. Horowitz will be responsible for ensuring Coinbase and the team comply with new regulations set out to ensure the company is operating within legal and safe boundaries. This in turn means Coinbases’ customers have access to a safer and more controlled product. According to the announcement made by the President and COO of Coinbase, Asiff Hirji, Horowitz comes with great authority:
“We are delighted to announce that we have appointed Jeff Horowitz as Coinbases’ 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. 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, and add new services such as Coinbase Custody and our recently announced acquisition of a licensed broker-dealer.”You can see the full announcement by Hirji on the Coinbase Medium page, here. Horowitz will now hold an awful lot of negotiating power when it comes to Coinbases’ association with authorities and regulators. By representing Coinbase, alongside his years of expertise, he will be able to establish a clear set of standards that the entire Coinbase framework must operate along. As Coinbase want to expand into more countries, Horowitz will play a crucial part in ensuring that Coinbase operations are unified across these countries. What happens in the USA, needs to be the same as what happens in the UK, to ensure that customers have access to a fair and democratic product. In the words of Hirji:
“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.”Best of luck on the new job, Coinbase will benefit from this, that’s for sure!