UK FCA seeks crypto experts for new digital currency department


The British financial watchdog, the Financial Conduct Authority (FCA), recently announced its intention to regulate the cryptocurrency industry in the country. To do so, however, he will first need to launch a new crypto-focused department that would research the industry and then come up with the best possible rules and guidelines to protect investors while allowing the industry to thrive.

The FCA is currently in the process of looking for senior executives with experience in the cryptocurrency industry to form the new team.

FCA is looking for crypto experts

This Monday, March 14, the FCA took to LinkedIn to post a new job posting which shows that the financial watchdog is now looking for candidates interested in the position of Head of Digital Assets Department, as well as Director payments and digital assets department.

Both job postings require applicants to have experience in the crypto space, with the Digital Asset Manager position targeting those who would be responsible for leading the department’s approach to crypto industry regulation. cryptography. Also, the position should help the regulator get a unique narrative on crypto, as the job posting states.

Another thing to note is that the FCA expects the new role to establish the cryptocurrency department. The announcement says the position will be vitally important to the agency’s crypto oversight efforts. The FCA called him a “critical leadership role within a proposed new direction dealing with emerging business models”.

The agency will be accepting applications for the position over the coming weeks, concluding the application period with April 3 this year.

Financial watchdog needs another vacancy

As mentioned earlier, the agency is also looking to fill another position of Director of the Payments and Digital Assets Department. According to the job posting, this role will include responsibility for policy and oversight related to e-money, payments and digital currency assets. In addition to this, he will also be responsible for overseeing other emerging business models for the financial services industry as a whole.

Again, the position requires candidates to have as much knowledge and experience as possible with digital currencies, as well as the relevant regulatory environment. Apart from the cryptos themselves, this also includes all the issues associated with cryptocurrency and payment companies.

Concerns about the crypto industry are growing in the UK

It seems pretty clear that the FCA is in a rush to set up the new dedicated crypto department and start working on creating new regulations for the digital currency industry. The efforts were prompted by the regulator’s growing concerns over oversight of the digital currency industry.

The agency also recently took other actions motivated by these concerns, including issuing orders to shut down Bitcoin ATM operators in the country. She justified it by saying it was necessary to prevent money laundering.

Then, last Friday, all UK-based financial services companies – including those that deal in cryptocurrencies – were told they had to comply with sanctions against Russia. Similar requests have been made by regulators and authorities in other countries, with one such request sent to Binance. The exchange responded that it would be more than willing to ban specific individuals from using its services, but that it will not do so for the entire country and all of its citizens.


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