BitGo, a leading digital asset custody and security company, has hired a former Coinbase compliance officer.
Jeff Horowitz, Coinbase’s former chief compliance officer, is joining BitGo as the new chief compliance officer, the company announced on January 13. Horowitz joins BitGo after having held the same role at Coinbase since July 2018.
The new executive will replace former BitGo CCO Matt Parrella and oversee the company’s compliance and anti-money laundering programs to ensure compliance and regulatory requirements.
Horowitz told TBEN that one of the biggest compliance challenges in serving institutional clients in the crypto space is navigating the complex and evolving regulatory landscape. He said BitGo expects greater regulatory clarity from global financial authorities:
“We are confident that as the crypto industry continues to mature, we will see clearer regulation at all levels, including national, federal and international policies and regulations.
Horowitz is a former member of large compliance groups such as the Large Firm Advisory Committee of the Financial Industry Regulatory Authority and the Bank Secrecy Act Advisory Group of the US Treasury. He is also a past co-chair of the AML committee of the Securities Industry and Financial Markets Association. Prior to joining Coinbase, Jeff spent over 12 years at Pershing clearinghouse and held compliance positions at companies such as Citigroup, Goldman Sachs and Salomon Brothers.
BitGo CEO Mike Belshe said Horowitz’s experience will help the company gain more strength in new markets and expand its product offerings. “As we move into the new year, we will see greater regulatory clarity for digital assets here and abroad,” Belshe said.
The new recruit comes shortly after BitGo settled with the US Treasury charges that the company facilitated user transactions in sanctioned areas using its crypto wallet services between 2015 and 2019. The news is which came shortly after BitGo announced that its digital custody service reached $ 16 billion in assets on December 24.