Coinbase Hires Former Goldman Sachs Executive as their New CPO

executive for the Goldman Sachs

May 25, 2021

Reading Time: 2 minutes

Coinbase announced yesterday the entry of a new chief policy officer to its team of employees. The crypto exchange company, through its spokesperson, informed that the Chief Policy Officer (CPO) would begin his roles by the end of June.

Faryar Shirzad landed this prestigious role after gaining 15 years of experience as an executive for the Goldman Sachs company. During his tenure there, Shirzad led the bank’s government affairs globally in their best interests.

At Coinbase, his roles remain somewhat similar, and it would be to liaise with governments around the world in matters concerning cryptocurrencies.

Coinbase clarified his role in their official communication as that of engaging with lawmakers and other policy experts to drive cryptocurrencies to their full potential. Actualizing the crypto dream would fuel a more equitable financial system, job opportunities, GDP growth, and innovations.

Was Such a Moved by Coinbase Precedented?

Coinbase has never been shy of regulation. Their insistence and loyalty to the law are, in fact, the few particular attributes that have risen it to be a popular and a trusted platform internationally.

The crypto exchange perceives collaboration with policymakers as the next probable step to achieve the skies that are the limits of cryptocurrencies.

Also, with a reputation of such stringent regulation, the crypto exchange will have automatically set itself apart and obtained a competitive advantage for business.

More Regulatory Clarity in the Industry

Coinbase serves over 56 million verified users spread in over 100 countries. Most of their clientelle resides in the United States, where, unfortunately, regulatory clarity is amiss.

As the legal battle between Ripple and US SEC continues, Coinbase hopes to foster an understanding relationship with policymakers for more Regulatory Clarity.

The crypto industry is relatively new, and while we are all trying to understand it and maximize our benefits from it, a legal framework is mandatory.

Welcome aboard, Faryar Shirzad and Good luck!

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