Horowitz was also co-chair of the Securities Industry and Financial Markets Association’s AML Committee. He began his career as a regulator with the Federal Deposit Insurance Corporation (FDIC).
“Banks and institutional investors are looking for a regulated and independent custody solution provider to safely store their crypto,” Horowitz told CoinDesk in an email. “Bankers want to know that a crypto custodian is meeting the same standards of security and compliance that Banks and Trust Companies are subject to today.”
Late last month, the U.S. Treasury Department announced that BitGo had agreed to pay $93,830 to settle 183 “apparent violations” of multiple sanctions programs.