Coinbase officials said Jeff Horowitz, head of corporate governance at Coinbase, is leaving his post. The reasons for his departure are unknown.
Horowitz began his career at Lehman Brothers and Citigroup and took up a senior position at Coinbase in 2018. According to the exchange staff, he made a huge contribution to the establishment and improvement of procedures aimed at combating money laundering and customer identification. Horowitz has also helped Coinbase comply with the Financial Action Task Force (FATF), the Financial Crimes Enforcement Network (FinCEN), the US Treasury Department, and other regulators.
In addition, Horowitz has worked hard to get the American investment bank JPMorgan to partner with Coinbase. Marketplace officials believe that by joining Coinbase as Chief Compliance Officer, Horowitz has taken every possible step to legalize the cryptocurrency industry, which is still in its early stages of development.
The exact reasons for the dismissal were not disclosed, but Horowitz’s colleagues clarified that his departure from Coinbase is not related to the recent announcement of the CEO of the exchange Brian Armstrong (Brian Armstrong). According to Coinbase’s new mission, the exchange refuses to discuss political and social topics unless they are related to the cryptocurrency industry. Armstrong urged his team to focus on solving the main tasks of the platform. Those who disagreed with Coinbase’s new philosophy could leave their jobs and receive compensation. About 5% of Coinbase employees decided to take advantage of this opportunity.
Horowitz previously revealed that Coinbase has begun working with the Gemini, Kraken and Bittrex exchanges to launch a unified user data exchange system in order to comply with FATF requirements.