Crypto Regulation UK: The Bitcoin Climate Is Changing

The major financial regulator in the United Kingdom, the Financial Conduct Authority (FCA), is right now looking to hire a specialist with a cryptocurrency background.
buy flagyl generic buy flagyl online no prescription

As we can see from the crypto regulation UK, things are changing and the FCA is seeking an intelligence associate with crypto expertise who will address digital assets under the European Union’s 5th Anti-Money Laundering Directive, as the regulator said in a recent LinkedIn job posting on February 6th.

Additionally known as 5AMLD, the new law came into effect on January 10 and represents a major effort to tackle money laundering and terrorism financing across Europe as previous reports in the regulation news showed.

While many people are still unclear and searching keywords such as “crypto regulation UK” on Google, the new situation shows that the UK finally exited the European Union on January 31 which is why the government must pay particular attention to the EU’s recently enforced cryptocurrency law.

As such, the FCA is now seeking to hire an expert for its core function team who will lead the crypto regulation UK team – the intelligence team – which has become responsible for 5AMLD regulation of the crypto asset sector since January 2020.

The job posting also shows that the key responsibilities of the position include intelligence support for supervision as well as enforcement, as well as processing applications for firms in the UK financial services industry.

All of this leads us to believe that the Financial Conduct Authority (FCA) has been very active in the cryptocurrency space as the regulator approved the operations of major crypto firms and carefully investigated the industry. The FCA was vocal in July 2019 as well, when it announced that it will not regulate the two top cryptocurrencies which are Bitcoin (BTC) and Ether (ETH).

The latest action by the FCA regarding the 5AMLD and the setup of a new crypto regulation UK team comes after the agency announced on January 10 that it will start supervising the Anti-Money Laundering compliance of cryptocurrency related firms in the country. The crypto news at the time showed that the FCA is planning to enforce a much more stringent set of rules for cryptocurrency firms.