US-based Coinbase is said to create a new position – Chief Compliance Officer. The platform also intends to become a regulated broker-dealer in the USA.
The company stated that the new position was given to Jeff Horowitz, citing his vast experience of the work in banks and regulatory institutions.
"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," the company statement reads.
For reference, Jeff Horowitz has almost 12-years experience in leading the compliance department at Pershing LLC, a BNY Mellon Company. Besides, he also worked with Citigroup and Goldman Sach as a manager of AML and compliance strategies.
It is worth mentioning that Horowitz also managed to take part in the development of the regulation for the US financial sector, cooperating with Financial Crimes Enforcement Network and the Financial Industry Regulatory Authority (FINRA).
This position has been established just after the company started offering custody services to institutional investors. Besides, the exchange targets broker-dealer status in the US market. Earlier, it was reported that SEC had greenlighted the exchange for acquisition of broker-dealer companies, but later the company rejected such statements.