Coinbase hires a former Goldman exec to head the crypto exchange's lobbying efforts

• Coinbase has hired former Goldman exec Faryar Shirzad as its chief policy officer.
• Shirzad spent 15 years at Goldman as the firm's global co-head of government affairs.
• He will work with governments around the world on critical issues surrounding the cryptoeconomy, Coinbase said.

Coinbase has hired former Goldman Sachs executive Faryar Shirzad as its chief policy officer, the cryptocurrency exchange announced Monday.

Shirzad spent 15 years at Goldman as the firm's global co-head of government affairs. At Coinbase he will work with governments around the world on critical issues surrounding the cryptoeconomy, according to a company release.

"We haven't seen a game changing innovation with the potential scale & impact of crypto since the internet," Shirzad said in a LinkedIn post. "Coinbase has embraced regulation from day one and will continue to do so as it works to bring the promise of crypto to people around the world. I was drawn to Coinbase's view that regulation is a business enabler and not a burden, an approach I wholeheartedly agree with. "

The hiring announcement comes just a week after Coinbase CEO Brian Armstrong said in a 21-tweet thread that he met with members of Congress to "establish relationships and help answer questions about crypto." He noted that there's a lack of regulatory clarity around cryptos in the US because some are considered securities, while some are currencies, and others could be considered commodities.

"Coinbase stands ready to help as a resource for all those who would like to learn more about crypto, and help drive toward regulatory clarity, and innovation," Armstrong said in the tweet.

Prior to his time at Goldman, Shirzad served on the staff of the National Security Council at the White House as deputy national security advisor for international economic affairs, and as the US G-8 Sherpa. He also served as assistant secretary for import administration at the U.S. Department of Commerce and as international trade counsel to the U.S. Senate Committee on Finance.

Shirzad will begin the role at the end of June, The Block reported.

"We're committed to helping the US embrace the exciting use cases of our new industry by providing more regulatory clarity to the industry," Coinbase said on Monday. "As Chief Policy Officer, Faryar will engage with lawmakers, regulators and other policy experts to realize crypto's full potential to fuel a more equitable financial system along with job creation, GDP growth, and innovation."

Shirzad's predecessor, Mike Lempres, left Coinbase in February 2019.