Coinbase CCO Jeff Horowitz is leaving the exchange after two years

Coinbase’s chief compliance officer (CCO), Jeff Horowitz is set to exit the cryptocurrency exchange, according to several people familiar with the personnel move.

Former Coinbase CCO Jeff Horowitz (R) with CEO Brian Armstrong

Jeff Horowitz joined the Coinbase exchange in July 2018 as its first compliance head. The move was then marked as ‘one more important step’ to legitimize the cryptocurrencies for institutions and regulators. As the firm’s first CCO, he played a role in shaping Coinbase’s anti-money laundering policies as well as its compliance with recommendations from the Financial Action Task Force (FATF).

Before joining Coinbase, Horowitz worked with BNY Mellon-subsidiary Pershing, Citigroup, Lehman Brothers, and Goldman Sachs in various leadership roles, all related to compliance.

Notably, Horowitz’s departure is unrelated to Coinbase CEO Brian Armstrong’s controversial blog post last week, which resulted in about 5% of employees exiting the exchange, according to a source familiar with the matter.

Late last month, Coinbase attracted a lot of critics as its CEO Brian Armstrong penned the exchange’s plans to stay apolitical and focus solely on its business. He offered employees a severance package, who are not willing part due to its apolitical vision.

Armstrong later revealed that as many as 60 Coinbase has taken the exit package. It is to be noted that Horowitz’s exit from the crypto exchange is not a part of this controversial move.

“We’re grateful for his service and wish him the best in the future,” a Coinbase spokesperson said. “While we conduct a search for our new CCO our chief legal officer Paul Grewal will take over day-to-day responsibility.”

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