Facebook Hires Two of Coinbase's Former Compliance Managers

gepubliceerd op by Coindesk | gepubliceerd op

Facebook hired two Coinbase veterans to work in compliance this month, and at least one of them is involved with the social media giant's blockchain effort.

Jeff Cartwright left Coinbase in March after nearly five years at the U.S. cryptocurrency exchange in various compliance roles.

He joined Facebook as a policy and compliance manager this month, according to his LinkedIn profile.

Facebook spokesperson Elka Looks said the company does not comment on personnel.

Mikheil Moucharrafie, who left Coinbase in April after more than three years, also joined Facebook this month.

A lawyer by training, Cartwright joined Coinbase in 2014 after working in compliance roles at American Express and Goldman Sachs and as an anti-money-laundering consultant at Big Four professional services firm KPMG. He spent the first three years at Coinbase managing the startup's AML and Bank Secrecy Act compliance, was promoted to head of internal audit in March 2017, and then to director of regulatory risk and exams in December of last year.

Moucharrafie has a similar pedigree, having worked as an AML/BSA investigator, compliance manager and risk manager during his time at Facebook.

The two hires' legal and regulatory chops may prove valuable to Facebook given the scrutiny its cryptocurrency plans have started to attract in Washington.

Last week, the U.S. Senate Banking Committee wrote an open letter to Facebook founder and CEO Mark Zuckerberg, asking him to share details about the cryptocurrency project, with a particular focus on consumer privacy.

The company quietly began building up a blockchain research team last year, headed up by vice president and former Coinbase board member David Marcus.

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