The UK Financial Conduct Authority (FCA) is looking for top executives with experience in the crypto area while the regulator prepares to launch a new crypto division to regulate the industry.

According to the FCA job postings on LinkedIn, the government is currently looking for a Head of Digital Assets and a Director of Payments and Digital Assets. Both features are aimed at crypto experts.

The job advertisement published on LinkedIn on Monday for the Head of Digital Assets at the FCA is aimed at a candidate who will be responsible for leading the authorities’ approach to regulatory processes in the British crypto industry. The new position is also expected to help the FCA achieve a “unified narrative on cryptocurrencies,” as the post notes.

The announcement notes that the new role is part of the FCA’s plan to establish a dedicated cryptocurrency department, and says that the new position will be critical of the regulator’s efforts to monitor crypto:

“We are looking for a division manager to create and lead a new crypto division that will lead and coordinate FCA’s regulatory activities in this emerging market. This is a critical leadership role in the proposed new management that deals with new business models […].
According to the announcement, the FCA will accept applications for this position until April 3, 2022.

In another job advertisement published last week, FCA is also looking for a director of payments and digital assets.

The scope of this role basically includes responsibility for policy and supervision of payments, electronic money, cryptocurrencies and other new business models in the financial industry. The position requires experience and knowledge of the relevant regulations, including issues related to cryptocurrencies and payment companies.

The FCA’s efforts to create a new regulatory arm dedicated to cryptocurrencies come at a time when the regulator has become increasingly concerned about the oversight of the cryptocurrency industry in recent times.

Last week, the Financial Conduct Authority (FCA) issued an order to close Bitcoin (BTC) ATM operators in the country as part of its efforts against money laundering. The authorities also confirmed last Friday that all British financial companies, including crypto companies, should impose sanctions on Russia.

Related: FCA confirms right to “suspend or cancel” crypto firms due to bilateral concerns

However, the regulator actively regulated the industry before. Earlier in March, the FCA officially announced that it had filed more than 300 cases against unregistered crypto companies over a six-month period, and launched 50 active investigations against unregistered crypto companies. The Financial Conduct Authority (FCA) reportedly received 6,372 cryptocurrency fraud reports in 2021, up from 3,143 the year before.

The Financial Conduct Authority did not immediately respond to Cointelegraph’s request for comment.

Source: CoinTelegraph

LEAVE A REPLY