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Coinbase Appoints Compliance Chief in Quest for Legitimacy

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In a blog post today (July 31st), Coinbase President and COO, Asiff Hirji, has announced the appointment of a Compliance Chief Officer. Jeff Horowitz has a career in compliance, and joins from Pershing, where he was the Managing Director and Global Head of Compliance. Hirji wrote:

“As Coinbase — along with the cryptocurrency space as a whole — grows and matures, continued regulatory compliance across all the varying jurisdictions globally will be critical. Jeff’s appointment builds on the foundation laid by our chief legal and risk officer, Mike Lempres, who will now focus his resources exclusively on leading our government relations efforts. 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.”

The move represents Coinbase’s next step towards becoming a licensed broker dealer. Only two weeks ago, the firm announced that the Financial Industry Regulatory Authority (FINRA) had approved the acquisitions of Keystone Capital Corp., Venovate Marketplace and Digital Wealth LLC, which have paved the way for the application process in the first place. Now, this additional, public statement has surely signalled that approval to list tokens as securities is imminent – although there have been no official comments from the regulator. Hirji added:

“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 acquisiton of a licensed broker dealer.”

Image Credit: Deposit Photos

Do you think Coinbase will get what they’re after this year? Let us know your thoughts.

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