US crypto exchange hires former FBI special agent as first general counsel

Certified fraud examiner Tom Davis joins Coinme from IBM's North America business unit

Tom Davis

Seattle-based cryptocurrency cash exchange Coinme has a hired former FBI Special Agent as its first-ever general counsel and corporate secretary as it seeks to bolster its compliance expertise amid rapidly evolving regulatory conditions in the crypto market. 

Tom Davis joins the company from IBM’s North America Business Unit, where he focused on financial crimes insight and regulatory compliance. The company said his addition will help it ensure it remains compliant with different regulatory policies as it continues to expand in the US and abroad. 

Co-founded in 2014 by Michael Smyers and Neil Berquist, Coinme says it has grown to include ‘thousands’ of physical locations across 48 states through partnerships with payment companies like Coinstar and MoneyGram. Smyers left the company in 2020 to pursue other opportunities and Berquist currently serves as CEO. 

“Since day one, we’ve been focused on doing things the right way, having secured the first state licence for a cash-to-crypto kiosk service in the US,” Berquist said. 

“With the addition of Tom, we can expand on our commitment to provide secure and trusted access to crypto amidst a rapidly evolving global regulatory landscape,” he added. 

Davis brings more than 25 years of legal experience and specialises in fraud investigations, financial crimes and regulatory compliance matters. He has been a certified fraud examiner since 2002. 

Before joining IBM Davis was the vice president of operations, compliance and fraud prevention for GCG, the third largest party administrator in the US. Earlier roles have included general counsel and corporate secretary for Airbiquity, a tech startup focused on automotive telematics and connected vehicle service delivery, and partner-in-charge of forensic and investigative services at Seattle-based accounting firm Moss Adams. During his time at the FBI Davis was assigned to the white collar crime squad in Seattle.

Coinme has been recognised by Deloitte as the fastest growing company in the Pacific Northwest and Davis said he was “excited to join the company at such a crucial time in its history,” adding: “I look forward to helping lead strategic commercial deals and partnerships that are key to the company’s continued growth and success.”



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