Coinbase Custody Trust Company has added two former New York banking regulators to its board of directors. In a blog post, dated August 7, the company confirmed that Robert Easton and Richard Neiman were selected for their solid experience in “financial services, public policy and banking operations.”
According to Coinbase:
Neiman and Easton’s experience is particularly important because Coinbase Custody is regulated by the New York Department of Financial Services (NYDFS). NYDFS regulates many trust companies, including the Depository Trust & Clearing Corporation, ICE Trust, and many other leading financial institutions. New York also was the first state to regulate crypto firms, starting in 2015 with the Bitlicense. NYDFS now regulates more than 20 crypto firms — more than any other state.
Easton is the former Executive Deputy Superintendent of the Insurance Division of the New York Department of Financial Services (NYDFS) and accumulated some 15 years of experience as a state financial regulator. He now serves as Marsh LLC’s Deputy General Counsel and Chief Compliance Officer.
Neiman was the Superintendent of the New York State Banking Department, the agency that preceded the NYDFS, and also served on the Congressional Oversight Panel for the Troubled Asset Relief Program in the aftermath of the 2008 financial crisis. He is currently serving as LendingClub’s Head of Public Policy.