UK’s FCA Hiring Crypto Director

This will be a critical leadership role where a candidate will be held accountable for leading the FCA’s approach to regulatory interventions in UK based crypto firms.

Mainly “supervising innovative and complex business models of registered firms and dealing with unregistered crypto asset businesses that may be involved in scams and frauds.”

FCA says they are looking for a candidate to build a team of supervisory and specialists to develop the FCA’s response to new trends and emerging risks to consumers and financial services.

The FCA is looking to close the period of accepting applications by April 3rd 2022.

FCA’s initiative to find a qualified candidate to lead the U.K. government’s vision on crypto assets is a great sign of progress which could lead to consumers being even more protected.

That’s especially after UK bizarrely banned any ‘illegal’ crypto ATM operating in the region, stating they must be shut down by the country’s Financial Conduct Authority.

In addition, ETPs may not be offered to retail investors either as the sale of crypto ETPs to investors has been banned by the UK regulator.

The stated reason for this is because the value of an investment in crypto ETPs is highly volatile and past performance is not a reliable indicator of future performance.

Investors believe the horse was put before the cart in these decisions as none of the crypto exchanges registered with the FCA have been approved to offer crypto ATM services.

That’s based on the financial regulator stating “that any of them operating in the U.K. are doing so illegally, and consumers should not be using them.”

This brings up the question: just how much crypto expertise was there at FCA while it made these decisions, especially in light of the regulator now recruiting for crypto experts.

Things may therefore get better in crypto Britain as that expertise increases at the regulator, allowing for more informed far reaching decisions.