Published: 20.04.2022
Updated: 04/21/2022
Article reading time:
2 minutes.
The UK Financial Conduct Authority (FCA) has appointed its Crypto Asset Manager as head of the Cryptocurrency and Digital Markets division.
The main supervisory authority of the UK financial system has chosen Victoria McLoughlin, who has worked in the department for more than 10 years, as interim head of the cryptocurrency regulation department. Previously, she served as Supervisory Manager for Cryptocurrencies and Digital Markets.
McLaughlin
commented her new appointment at LinkedIn, saying she is proud to lead the team that will shape the future of the UK cryptocurrency market.
“This is an incredibly important time for the sector. It is a true privilege for me to lead our fantastic team in the new FCA and oversight strategy as we are shaping the future of financial services and delivering positive outcomes for consumers, markets and businesses all these months,” said McLaughlin.
According to information from her LinkedIn page, Victoria McLaughlin took a course at Magic Circle Linklaters, a law firm. During her training, she was seconded to the international financial services company Lehman Brothers.
The agency began searching for a head of crypto regulation in mid-March 2022. The reason was the growing pressure from the crypto business in anticipation of the deadline for issuing licenses to companies for crypto-currency activities. A complex and lengthy licensing process, in which exchanges must confirm compliance with anti-money laundering regulations, has led major crypto companies such as B2C2, Blockchain.com and BCB Group to seek regulatory approval in other jurisdictions.
Currently, there are still five companies on the FCA interim registry, including large depository company Copper and neobank Revolut. In April, the FCA invited stakeholders to discuss the strategy for developing digital assets in the UK as part of its first Crypto Sprint event.
Source: Bits
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