UK’s FCA Announces Job Opportunity for A Crypto Professional to Contribute in EU Regulations

News / 06.02.2020

The UK’s Financial Conduct Authority, FCA, wants to employ a cryptocurrency enlightened person. The institution announced the job opening on the 6th of February on LinkedIn. The FCA needs an intelligent associate skilled in cryptocurrency to deal with digital assets within the context of the EU’s fifth Anti-Money Laundering Directive, 5AMLD.

The 5AMLD became effective on the 10th of January and deals with money laundering and terrorism financing in Europe. On the 31st of January, the UK exited the EU; however, the authorities must remain attentive to the EU’s recent law.

Therefore, the FCA requires a professional for its intelligence team, in charge of 5AMLD regulation of the cryptocurrency asset sector since last month. The position’s significant roles are intelligence support, supervising and enforcing the law, and process applications for companies in the UK’s financial services sector.

How FCA is Contributing to the Cryptocurrency Industry

FCA has approved the leading cryptocurrency companies’ operations and investigated the industry. Last year, the regulator announced that BTC and ETH were not part of the cryptocurrencies it would regulate. 

On the 10th of January, it announced that it would begin supervision of companies into operations related to cryptocurrency in the country to ensure that they comply with Anti-Money Laundering laws. Additionally, a recent report noted plans by FCA to enforce further stringent laws for cryptocurrency companies.

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Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it did not take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject.