Coinbase’s capital Markets head, Brett Redfearn has reportedly left his position at Coinbase in less than five months. According to the report by Wall Street Journal, Brett resigned as the Capital-Markets Head at the end of July. Brett also happens to be the former director of the division of trading and markets at the US SEC.
During his time at Coinbase, Redfearn took care of the crypto exchange’s strategy for crypto capital markets, including digital asset securities. Amid increasing regulation on digital-asset securities, he is shifting his priorities.
A Coinbase spokesperson said the company “appreciate[s] his contributions and wish[es] him the best in his future endeavors.”
A few days ago; Brian Brooks, CEO of Binance US stepped down from his position.
The news of Readfearn’s resignation arrives amid the SEC’s signals for toughening up its stance on regulating the crypto industry. SEC Chair Gary Gensler indicated in a speech last week that he will take a broad view of which digital assets can be considered securities. He said, “many of these tokens are offered and sold as securities.”
Recently, the SEC announced a $10.4 million settlement with digital-asset exchange Poloniex LLC. The SEC charged Poloniex for failing to register as a national securities exchange.