A senior lobbyist at Goldman Sachs has joined Coinbase as his new chief politician, boosting cryptocurrency exchanges in Washington as US regulators voice irregular cryptocurrency rules.
Fariar Shirzad will start next month at Coinbase with Goldman after 15 years as co-chair of government affairs.
“As a leading politician, Farrier will work with lawmakers, regulators and other policy experts to realize the full potential of cryptocurrency to promote a fairer financial system, along with job creation, GDP growth and innovation,” Coinbase said on Monday.
The position is a new role for Coinbase, the company said.
Hiring Shirzad is a delicate moment for Coinbase. Last month, The company completed its list on the Nasdaq The stock exchange debuted, valued at about $ 75 billion, amid rising prices for bitcoin and other cryptocurrencies. At the time, the list was seen as a significant moment for the ratification of digital currencies for the industry.
However, Coinbase shares have fallen nearly a third since then. cryptocurrencies fell Signs that China is putting pressure on digital signs, as well as warnings from other regulators around the world about their risks.
For example, earlier this month, Gary Gensler, the new chairman of the US Securities and Exchange Commission, said The crypto market is “one that can benefit from greater investor protection”,
Coinbase says in its list that the uncertainty surrounding cryptocurrencies is a big risk factor.
“We are subject to a vast, rapidly evolving regulatory landscape, any adverse changes or non-compliance with any law or regulation can adversely affect our brand, reputation, business, operating results, and financial condition,” it said.
Prior to joining Goldman Sachs, Shirzad played a number of roles. Bush’s White House, including Deputy National Security Adviser on International Economic Affairs.
Goldman declined to comment on Shirzad’s move.