UK’s FCA is Looking For Cryptocurrency Professional to Address EU Regulations

News / 06.02.2020

The UK’s key financial regulator, the Financial Conduct Authority (FCA), wants to employ a professional who is grounded in cryptocurrency.

The FCA announced the job opening in a LinkedIn job posting on February 6. According to the announcement, the regulator needs an intelligence associate skilled in cryptocurrency to deal with digital assets within the context of the EU’s Fifth Anti-Money Laundering Directive (5AMLD).

According to a previous report, 5AMLD became effective on January 10 and it is a key effort to deal with money laundering and terrorism financing in Europe.

Despite the UK’s exit from the EU on January 31, the authorities must remain attentive to the recent crypto law enforced by the EU. Hence, the FCA needs someone for its intelligence team in charge of 5AMLD regulation of the cryptocurrency asset sector since last month.

The major roles of the position are intelligence support to supervise and enforce the law and to process applications for companies in the financial services sector of the UK.

Some of the achievements of the FCA in the cryptocurrency domain are the approval of leading cryptocurrency companies’ operations and careful investigation of the industry. The regulator announced last year that BTC and ETH were not part of the cryptocurrencies it would regulate.

The job opening by the regulator comes following its official announcement on January 10 that it will begin supervision of companies into operations related to cryptocurrencies in the country to ensure that they comply with Anti-Money Laundering laws. A recent report noted plans by the regulator to enforce further stringent laws for cryptocurrency companies.

 

Featured image courtesy of GettyImages. Source: Cryptopress.

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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.