Coinbase Hires New Chief Compliance Officer, Jeff Horowitz
On the 31st July 2018, Coinbase announced appointment of a Chief Compliance Officer (CCO) Jeff Horowitz, bringing 12 years of experience working at Pershing LLC, a large provider of brokerage custody, settlement and clearing solutions. Creating this new position echoes the company’s commitments to compliance. With this move we could see Coinbase cementing themselves for future markets as the place to buy and sell Bitcoin.
Coinbase has marketed itself as ‘the world’s most trusted cryptocurrency service’ and hiring Horowitz suggests their continued commitment to compliance and trust. The appointment of Horowitz will be invaluable to Coinbase as they continue to add new services such as Coinbase Custody and the recently acquired licensed broker-dealer for OTC Bitcoin for a large Bitcoin purchase.
Horowitz has an extensive background in compliance with previous positions such as global head of compliance, chief compliance officer and global head of anti-money laundering. He also led compliance and AML programs at Citigroup, Goldman Sachs and Salomon Brothers. As a member of the Security Industry and Financial Markets Association and Financial Industry Regulatory Authority, Horowitz is strong active advocate for the regulatory compliance of the Crypto FinTech industry. Hiring him as Coinbase’s Chief Compliance Officer will help lay the foundation for future endeavours.
Regulation of cryptocurrencies and its services will continue to evolve and grow globally. Coinbase is proactively following the market to keep ahead.
For our services to buy crypto and make sure you don’t miss the latest news in cryptocurrency, be sure to visit BC Bitcoin.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards