BitGo, a major digital property protection and security company, has appointed a former Coinbase CEO.
Jeff Horowitz, the former Chief Compliance Officer at Coinbase, announced that he will join BitGo as the new Chief Compliance Officer, the company announced on January 13. Horowitz joined BitGo after holding the same position at Coinbase since July 2018.
The new CEO will replace former BitGo managing director Matt Parrell and will oversee the company’s compliance and money laundering program to ensure compliance and regulatory requirements.
Horowitz told Cointelegraph that one of the biggest regulatory compliance challenges in serving enterprise customers in crypto is navigating a complex and changing regulatory environment. He said BitGo expects more regulatory clarity from global financial authorities:
“We are confident that as the crypto industry continues to grow, we will see more regulatory clarity at all levels, including government, federal and international policies and regulations.”
Horowitz is a former member of major compliance groups such as the Financial Industry Regulatory Authority’s Large Corporate Advisory Group and the US Treasury’s Bank Secrecy Law Advisory Group. He is also the former co-chair of the Anti-Money Laundering Committee of the Federation of the Securities and Financial Markets Industry. Prior to joining Coinbase, Jeff spent over 12 years at the Pershing Clearing House and held compliance positions at Citigroup, Goldman Sachs and Salomon Brothers.
BitGo CEO Mike Belchi said Horowitz’s experience will help the company gain more exposure in new markets as well as expand its product offering. “As the new year approaches, we will see greater clarity in the regulation of digital assets here and abroad,” Belchi said.
The new lease went into effect shortly after BitGo was settled with the US Treasury over fees the company allowed users in authorized territories to transact using its encrypted wallet services between 2015 and 2019. The news came shortly after BitGo announced that the digital storage service was private. On December 24, his assets reached $ 16 billion.