Home Coinbase BitGo adds compliance chief from competitor Coinbase | Article

BitGo adds compliance chief from competitor Coinbase | Article

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Horowitz joins BitGo from fellow cryptocurrency platform Coinbase, where he served as chief compliance officer for 2 1/2 years, according to his LinkedIn profile. At BitGo, he will oversee compliance and anti-money laundering (AML) programs across the entire enterprise.

“Jeff brings an extraordinary level of experience and insight that is vital to BitGo’s future growth, helping us gain even greater traction into new markets, expand our product offerings and strengthen our compliance and risk framework.” said CEO Mike Belshe in a press release. “As we move into the new year, we will see greater regulatory clarity for digital assets both here and abroad. Jeff’s knowledge of both traditional financial services and crypto markets will be critically important as we navigate state, federal, and international policies and regulations.”

The announcement of Horowitz’s appointment comes two weeks after BitGo was fined $98,830 as part of a settlement with the Department of the Treasury’s Office of Foreign Assets Control (OFAC) regarding 183 apparent violations of multiple sanctions programs. In cooperating with OFAC’s investigation, BitGo overhauled its compliance commitments, including hiring a chief compliance officer specifically responsible for implementing and providing guidance on matters related to U.S. sanctions.

The company’s former CCO, Matt Parrella, departed in November after nearly 1 1/2 years in the role, according to his LinkedIn profile.

At Coinbase, Horowitz led the firm’s global compliance program and managed regulatory and bank partner relationships. Prior to that, he spent over 12 years with BNY Mellon subsidiary Pershing in various leadership roles, including as managing director and global head of compliance. He was also the firm’s chief AML and OFAC officer.

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