BlocksInform
The National Crime Agency of the United Kingdom arms against crypto crimes. The agency is seeking to hire an expert in cryptocurrency for its crypto unit.
New technologies are usually hot spots where criminals can take advantage of loopholes and achieve their malicious goals. In 2022, the crypto industry saw more than $3 billion in piracy. Therefore, as crypto assets are a relatively new asset class, appropriate regulations and dedicated units are required to combat crime in the area.
The UK national crime agency has launched “NCCU Crypto Cell,” a specialized unit dealing with cryptocurrency-related crimes.
Crypto Crimes in the UK
The UK National Crime Agency’s annual report between April 1, 2021, to Mar. 31, 2022, states that criminals increasingly exploited financial technology and crypto assets for money laundering causing harm to the UK’s economy and institutions.
According to the report, the organization seized $26.89 million (about $32.4 million) of cryptocurrency by March 31, 2022.
UK National Crime Agency Looks for Crypto Expert to Fight Criminals
The crypto industry requires expertise in tracking the cash flow and behaviour of criminals. For this reason, the cyber security industry may need to be better equipped with the knowledge necessary to understand the complexity of crimes committed with the help of blockchain.
Therefore, the agency opened one for experts with a "cryptocurrency specialist experience" for its crypto cell. The agency will pay the expert a salary that falls within the? 40,209 – ? 43,705 range.
The stages to the regulation of cryptography.
Under Prime Minister Rishi Sunak, the British government appears determined to regulate cryptocurrencies according to recent developments. In April, the PM, who was then serving as Finance Minster, tweeted, “We’re working to make the UK a global cryptoassets hub.”
Edinburgh reforms announced in December mentioned that the government aims to “establish a safe regulatory environment for stablecoins – which may be used for payments.” Not only does the government plan to make stable regulations, it plans to bring a "wider range of investments related to crypto-asset activities into regulation."
Do you have anything to say about the National Crime Agency in the United Kingdom, crypto regulation, or something? Write to us or join the discussion on our Telegram channel. You can also catch us on FacebookTwitter
