Reports indicate that Coinbase has hired Kathryn Haun, former federal prosecutor, and member of the Homeland Security Investigations team as its new Head of Policy. While Haun’s experience in the crypto market is limited, she is a well-known name from an earlier time in the space, having prosecuted some of the most high profile cases in the cryptocurrency space such as the case against former BTC-e and Mount Gox executives, Alexander Vinnik and Mark Karpeles respectively.
When you have a large customer base that is happy with your product, it makes sense to go after new customers. Coinbase did just that and announced today that its hiring of a former White House Advisor as its new Head of Policy. The company aims to have a regulated bank-like presence in the US by the year 2020 and with that in mind it is looking to hire a new Head of Policy and a Chief Compliance Officer. Coinbase’s new Head of Policy is Jim Carroll, a former White House Senior Advisor. Carroll has worked with Secretary of State John Kerry and former Secretary of State, Condoleezza Rice. Carroll was also a part of the team that established the Asia Pacific Economic Cooperation (APEC) Leaders’ Meeting
US cryptocurrency exchange Coinbase welcomes former White House deputy national security adviser Faryar Shirzad as its new head of policy, it announced on its blog earlier this week. I am pleased to announce that I have joined @Coinbase as Director of Policy. https://t.co/2HpPQajB8A – Faryar Shirzad (@faryarshirzad) May 24, 2021 Shirzad joins Coinbase from Goldman Sachs, where he spent 15 years as co-head of the government relations office, as the new policy director.
Welcome to Coinbase, Faryar!
Coinbase, one of the largest cryptocurrency exchanges in the industry, provides services in over 100 countries and is therefore highly motivated to build relationships with policy makers and collaborate with governments around the world. The Exchange has always complied with local laws and operates in accordance with the financial regulations of the jurisdiction in which it is located. It is highly selective in its coin listing policy and has already hired top lawyers, politicians and bankers to maintain its image as an obedient cryptocurrency exchange. As the political issues surrounding cryptocurrencies continue to evolve, I’m pleased to welcome @faryarshirzad to the @coinbase team. Let’s go! https://t.co/Lk3061RPPE – Paul Grewal (@iampaulgrewal) May 24, 2021 At Coinbase, we believe that working with policymakers around the world is not only important to unlock the full potential of the crypto economy, but is also a competitive advantage for our business, the exchange said in a blog post. Last week, when the cryptocurrency market experienced its biggest one-day selloff since March 2020, Coinbase shares fell to $217. After days of negative sentiment following the rally in the cryptocurrency market, Coinbase traded higher on Monday, reaching a high of $230.
Use of experience
During his career, Shirzad has held several public positions. He was assistant secretary for import management at the U.S. Department of Commerce and advisor for international trade to the U.S. Senate Finance Committee. The exchange welcomes his invaluable experience and expects him to help navigate the global regulatory environment as the policy issues surrounding cryptocurrencies continue to evolve. As the new policy leader, he must promote the adoption of cryptocurrencies both domestically and internationally. According to Coinbase, millions of their customers are in the US, and Shirzad is expected to encourage the adoption of cryptocurrencies in the US by providing more clarity on how the industry is regulated. As policy director, Faryar will work with lawmakers, regulators and other policy experts to realize the full potential of cryptocurrencies to promote a fairer financial system, as well as job creation, GDP growth and innovation, the exchange said in a blog post.
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