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BitGo Taps Former Coinbase Exec Jeff Horowitz as Chief Compliance Officer

Jeff Horowitz led Coinbase’s global compliance program until his departure in October.

Jan 13, 2021 at 11:00 a.m. UTC
Updated Sep 14, 2021 at 10:55 a.m. UTC

Cryptocurrency custodian BitGo has hired Coinbase’s former chief compliance officer to lead its compliance and anti-money laundering (AML) programs.

Jeff Horowitz led Coinbase’s global compliance program before leaving in October. Prior to Coinbase he spent 12 years with Pershing, a clearinghouse owned by BNY Mellon. 

Horowitz was also co-chair of the Securities Industry and Financial Markets Association's AML Committee. He began his career as a regulator with the Federal Deposit Insurance Corporation (FDIC).

The hire comes as banks across the U.S. have received more regulatory clarity through several letters issued by the U.S. Office of the Comptroller of the Currency giving them the green light to custody crypto and conduct payments and other activities with stablecoins.

“Banks and institutional investors are looking for a regulated and independent custody solution provider to safely store their crypto,” Horowitz told CoinDesk in an email. “Bankers want to know that a crypto custodian is meeting the same standards of security and compliance that Banks and Trust Companies are subject to today.”

Late last month, the U.S. Treasury Department announced that BitGo had agreed to pay $93,830 to settle 183 “apparent violations” of multiple sanctions programs.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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