The chief compliance officer of Coinbase, the largest cryptocurrency exchange in the United States, Jeff Horowitz, has left his post, The Block reports.
Previously Horowitz was responsible for regulating banks at the Federal Deposit Insurance Corporation (FDIC) and was a member of the Banking Secrecy Legislation Advisory Group within the Financial Crimes Enforcement Network (FinCEN). He also sat on the Regulatory Compliance Advisory Committee at FINRA.
Horowitz joined Coinbase in 2018 and helped the company establish anti-money-laundering controls and FATF-compliant measures. Sources say he also played a key role in recruiting JPMorgan as a banking partner for Coinbase.
Coinbase confirmed Horowitz’s departure, but gave no reason for the decision.
Earlier, Coinbase CEO Brian Armstrong stated that the company would refrain from participating in discussions on political and social issues, unless they affect the cryptocurrency industry. Those who disagreed with this decision were offered to resign. This is what 60 people (about 5% of the workforce) refusing to accept the new policy.
Jeff Horowitz is the first executive of this rank to leave the company after Armstrong’s statement.
This week it was reported, that Serena Williams’s venture firm, without notice, removed Coinbase from its portfolio list.
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