Primarily based on the studies from Coinbase, Jeff Horowitz the agency’s Chief compliance officer is ready to half methods with the trade
His exit is, nonetheless, not linked to the contentious and moot weblog publish by the corporate’s CEO Brian Armstrong that surfaced final week. It began when some workers requested the corporate to take a stance on social/political points just like the Black Lives Matter motion, which prompted the assertion from the corporate’s government, the place Armstrong proclaimed an ‘apolitical’ non-activist stance. It’s rumored this publish led to about 5% of the corporate workers (60 workers) departing.
Previous to becoming a member of Coinbase, Horowitz had labored with a number of different corporations, together with Citigroup, Goldman Sachs and Lehman Brothers. On the time of his rent to Coinbase, Horwitz labored for Pershing, a BNY Mellon subsidiary specializing in brokerage providers.
He was the primary CCO at Coinbase – a place he has served since 2018. Within the two years he has been with the corporate, Horowitz has completed a number of milestones. His effort was instrumental in shaping the trade’s anti-money laundering (AML) pointers. As well as, he helped the corporate obtain compliance with suggestions from the Monetary Motion Job Drive.
Stories additionally element that he performed a big function in touchdown JPMorgan as a banking associate for the trade. A spokesperson from Coinbase corroborated studies on Horowitz’s exit, saying,
“Since becoming a member of the corporate in mid-2018, Jeff performed an lively function in serving to to form crypto and AML regulation with FATF, Monetary Crimes Enforcement Community, Division of Treasury and regulators across the globe. We’re grateful for his service and need him the very best sooner or later. Whereas we conduct a seek for a brand new CCO, our Chief Authorized Officer, Paul Grewal, will take over day-to-day accountability for our compliance packages, with assist from our compliance leads“.