UK FCA Seeks a Blockchain and Crypto Expert

Crypto and blockchain job seekers are in for a treat.  The FCA is looking for a crypto expert as part of their latest efforts to regulate digital currencies operating in the UK.

February 9, 2020 | AtoZ MarketsThe Financial Conduct Authority (FCA) of the UK to hire a cryptocurrency expert. More specifically, the FCA is looking to work with someone who has crypto expertise. The specialist will help the regulator to know how to address digital assets according to the EU’s 5th Anti-Money Laundering Directive (AMLD5).

At least this is what an FCA LinkedIn posting from February 6 says. AMLD5 came into effect last month, on the 10th. It represents the efforts made by authorities to deal with money laundering activities in Europe.

Why the FCA is in search of a crypto expert

While the UK exited the EU 6 days ago, on January 31, the British government still needs to pay attention to the European cryptocurrency law that has recently been enforced. This could be the reason why the FCA is looking for a crypto expert to join its core function team. This is the team dealing with intelligence and has been responsible for the interpretation of the AMLD5 regulation since January 2020.

Related: How Will The New AMLD5 Affect European Crypto Exchanges?

As per the job posting, a qualified candidate would be responsible for the enforcement and supervision of the regulation. Additionally, the person will help with processing applications of companies wanting to be part of the financial services industry in the UK.

The FCA is active in the crypto space

On several occasions, the FCA has made its voice heard in the crypto space. For example, the regulator has approved the operations of many important companies in the industry. It has also closely investigated the happenings in the UK’s crypto space. Back in July 2019, the FCA announced that it won’t regulate Bitcoin and Ethereum.

The FCA’s new action on AMLD5 arrives soon after the agency made the official announcement that it’s going to start supervising AML compliance of crypto companies in the country. It has been reported that the rules FCA plans to impose are going to be very stringent.

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