The US-based cryptocurrency exchange Coinbase announced that it had appointed Faryar Shirzad, a former White House official, as its new chief policy officer to face the ongoing regulatory environment that the crypto sphere is facing off globally.<\/p>\n
Shirzad, born in London, served as a member of the National Security Council at the White House from March 2003 through August 2006 during George W. Bush\u2019s administration. He also joins the now US-listed company after having a 15-year tenure at Goldman Sachs, where Shirzad led the firm\u2019s government relations as the global co-head of the office of government affairs.<\/p>\n
Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!<\/strong><\/p>\n \u201cCoinbase has never shied away from regulation. In fact, we\u2019ve leaned into it over the past 9 years, allowing us to become a trusted platform bringing consumers and institutions alike into the cryptoeconomy. As a part of this commitment, we\u2019re thrilled to welcome Faryar Shirzad as Coinbase\u2019s new Chief Policy Officer,\u201d Coinbase said in a blog post.<\/p>\n Furthermore, the company commented that policymakers\u2019 relations around the world are \u201cnecessary to unlock the full potential\u201d of the so-called cryptoeconomy. \u201cAs Chief Policy Officer, Faryar will engage with lawmakers, regulators and other policy experts to realize crypto\u2019s full potential to fuel a more equitable financial system along with job creation, GDP growth, and innovation,\u201d Coinbase added.<\/p>\n The announcement comes in the wake of the US Securities and Exchange Commission\u2019s warning about the lack of regulation on the crypto exchanges, specifically to provide enough protection for consumers against fraud or manipulation.<\/p>\n Gary Gensler, the US SEC Chairman, even suggested that the United States Congress should be stricter when addressing the industry. \u201cI think it\u2019s only Congress that could really address it. It would be good to consider,\u201d Gensler noted.<\/p>\n Recently, the crypto exchange unveiled its intentions to raise $1.25 billion in funds through private offerings available for institutional investors. Also, Coinbase announced in April its support for stablecoin Tether (USDT) through its Pro platform.<\/p>\nUS Congress and Crypto Regulation\u2019s Discussions<\/h2>\n