Wide-scale layoffs at Coinbase Global Inc. won't significantly impact its compliance team, as the cryptocurrency exchange remains under a New York regulator's watch after recently settling allegations it violated anti-money-laundering laws.

Coinbase wants to cut operating expenses by 25% and plans to lay off about 950 people, Chief Executive Brian Armstrong said Tuesday. A spokeswoman for the company, asked whether the departures would impact the exchange’s risk, compliance or legal teams, said there won’t be “meaningful” layoffs in key roles.

“We aren’t making meaningful cuts for roles that are necessary to meet the high standards we set for security and compliance, or to support our mission-critical work,” she said.