Coinbase, a leading cryptocurrency exchange in the United States, is keen on strengthening its crypto operations in the United Kingdom with the addition of a new compliance officer.
The exchange is seemingly living up to a statement it’s UK CEO issued early last year that it will continue to add the number of staff at its UK office in a bid to expand its crypto operations in the country.
Mark Kelly, the new head of compliance, is leaving Abide Financials, a regulatory reporting firm in the UK, where he served for roughly 5 years. From his social media profile, Kelly reportedly joined Coinbase’s UK office in January this year.
According to Yahoo:
While at Abide, Kelly advised clients on regulatory compliance areas such as anti-money laundering rules, the EU’s Markets in Financial Instruments Directive and the European Market Infrastructure Regulation
Apart from Abide, Kelly has in the past held notable positions in compliance and or auditing in respected companies in the UK such as Barclays Capital, Lehman Brothers, and Grant Thornton.
The exchange’s crypto operations in the United Kingdom are guided by an e-money license which it received from the Financial Conduct Authority, UK’s financial watchdog. The license also allows Coinbase to operate in other countries in the European Union.
In the recent past, Coinbase has been laying off and at the same time bringing in new staff mostly those at the middle and the senior levels.
Early last year, Zeeshan Feroz, Coinbase’s UK CEO, said that they are on a hiring spree “across its London teams” as crypto operations in Europe to gain momentum.
As Coinbase UK boosts its crypto operations by hiring Kelly, do you think to have a strong compliance team will boost the exchange’s crypto operations in the United Kingdom?
Let us know your thoughts in the comments section below.