Jeff Horowitz, Coinbase Chief Compliance Officer, has left his position, reports The Block.

Previously Horowitz served as a banking regulator at the Federal Deposit Insurance Corporation (FDIC) and was also a member of the FinCEN’s Bank Secrecy Act Advisory Group (BSAAG). In addition, Horowitz served on the Compliance Advisory Committee of the Financial Institutions Regulatory Agency (FINRA).

Coinbase has confirmed information about Horowitz’s departure, but the reasons for this decision are not disclosed.

“Since joining the company in mid-2018, Jeff played an active role in helping to shape crypto and AML regulation with FATF, FinCEN, Dept. of Treasury, and regulators around the globe. We’re grateful for his service and wish him the best in the future. While we conduct a search for a new CCO, our Chief Legal Officer, Paul Grewal, will take over day-to-day responsibility for our compliance programs, with support from our compliance leads.”

Earlier, Coinbase CEO Brian Armstrong said that the company refuses to participate in discussions of political and social topics if they do not affect the cryptocurrency industry. Disagreeing with this decision, the head of the exchange suggested resigning. This is exactly what about 60 people (about 5% of the entire staff of the company) did, refusing to accept the new policy.