Coinbase appoints former White House staffer as chief policy officer
Coinbase Global Inc has appointed Faryar Shirzad, a former White House official, as chief policy officer, the cryptocurrency exchange said in a blog post on Monday.
Shirzad joins the company against the backdrop of increased regulatory scrutiny around digital currencies globally. He served as deputy National Security Advisor for International Economic Affairs at the White House and was most recently the global co-head of government affairs at Goldman Sachs, where his tenure spanned 15 years. Previously, he was also the assistant secretary for import administration at the U.S. Department of Commerce.
Last week, Federal Reserve chief Jerome Powell said cryptocurrencies pose risks to financial stability. The U.S. Treasury is also backing a proposal that would require cryptocurrency transfers over $10,000 to be reported to the Internal Revenue Service. Coinbase, which went public earlier this year, in March named Brett Redfearn, a former director of the U.S. Securities and Exchange Commission, as vice president of capital markets division. "Coinbase has never shied away from regulation. In fact, we've leaned into it over the past 9 years...", the company's blog post said.
Bitcoin, the most popular cryptocurrency, is down more than 40% from last month’s record high, with a sell-off that was fueled by China’s crackdown on crypto.
https://www.reuters.com/article/coinbase-moves/coinbase-appoints-former-white-house-staffer-as-chief-policy-officer-idUSL3N2NB3BL
Faryar Shirzad formerly served on the staff of the National Security Council at the White House from March 2003 through August 2006, first as a special assistant to the President for International Economic Affairs, and then as deputy assistant to the President and deputy national security advisor for International Economic Affairs. In those roles, Shirzad was responsible for advising the President, the National Security Advisor and the Director of the National Economic Council on all international economic policy matters, including trade, investment, finance, development, energy and environment. He also served as the President’s personal representative to the G-8 (the “G8 Sherpa”), and led the preparations for the President’s participation in other international economic summits. Shirzad joined Goldman, Sachs & Co. in August 2006 and is a Managing Director, and Global Head of Government Affairs. Shirzad recently received the Ellis Island Medal of Honor.
https://ir.usembassy.gov/faryar-shirzad/