BitGo, a leader in digital asset custody and security, hired a former Coinbase Compliance Executive.
Jeff Horowitz, former Chief Compliance Officer of Coinbase, joins BitGo as the new Chief Compliance Officerannounced the company on January 13th. Horowitz joins BitGo after holding the same role at Coinbase since July 2018.
The new executive will replace BitGo’s former CCO. Matt Parrella, and Monitor the company’s anti-money laundering programs and compliance to ensure compliance and regulatory requirements.
Horowitz told Cointelegraph that One of the biggest compliance challenges when serving institutional customers in crypto is navigating the complex and changing regulatory landscape. He said BitGo expects more regulatory clarity from global finance authorities:
“We are confident that as the cryptocurrency industry matures, we will see more clarity about regulations at all levels, including state, federal and international guidelines and regulations.”
Horowitz is a former member of key compliance groups such as the Corporate Advisory Board of the Financial Industry Regulatory Authority and the Treasury Department’s Advisory Group. He also served as co-chair of the AML committee of the Securities and Financial Markets Industry Association. Before you get to Coinbase, Jeff served in the Pershing clearinghouse for more than 12 years and held compliance positions at companies such as Citigroup, Goldman Sachs and Salomon Brothers.
BitGo’s CEO, Mike belshesaid that Horowitz experience will help the company gain a foothold in new markets, as well as to expand the product rangep. “With the start of the new year we will see more clarity regarding the regulation of digital assets domestically and internationally,” said Belshe.
The new hiring comes shortly after BitGo signed a deal with the U.S. Treasury Department about the allegations that The company offered users in sanctioned areas the opportunity to conduct transactions The news came shortly after BitGo announced that its digital custody service hit $ 16 billion in net worth on December 24th.