Jeff Horowitz steps down from Coinbase

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Coinbase employees reported, that the head of the corporate control department of the Coinbase Exchange Jeff Khorovitz (Jeff Horowitz) Leaves his post. The reasons for his departure are unknown.

Khorovitz began his career in Lehman Brothers and Citigroup banks, and in 2018 year took a leadership position in Coinbase. 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. Khorovitz also helped Coinbase in compliance with the requirements of the group of financial measures to combat money laundering (FATF), US -Combat Crime Network (FinCEN), US Department of Finance and other regulators.

Besides, Khorovitz made a lot of effort, so that the American investment bank JPMorgan becomes a partner. Employees of the trading platform consider, that having joined Coinbase as a supervisor for the supervision of regulatory legal compliance, Khorovitz took all possible steps to legalize the cryptocurrency industry, which is still at an early stage of development.

The exact reasons for the dismissal are not reported, However, Khorovitsa colleagues clarified, that his departure from Coinbase is not related to the recent statement by the General Director of the Exchange Brian Armstrong (Brian Armstrong). According to the new Coinbase mission, The exchange refuses to discuss political and social topics, If they are not related to the cryptocurrency industry. Armstrong urged his team to focus on solving the main problems of the platform. They, who did not agree with the new Coinbase philosophy, could leave their workplace and receive compensation. This opportunity decided to take advantage of 5% Coinbase employees.

Earlier, Khorovitz said, that Coinbase began to interact with Gemini exchanges, Kraken and Bittrex for launching a unified user exchange system in order to comply with Fatf requirements.

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