UK National Crime Agency forms specialized cryptocurrency team with new hires UK National Crime Agency forms specialized cryptocurrency team with new hires
Crypto community members says the salary will not attract the best for the role.
1 min read
Updated: Nov. 2, 2023 at 1:30 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The United Kingdom’s National Crime Agency seeks to employ six crypto investigators as part of a new project that will form a specialized digital assets team.
“The role will be dedicated to a proactive cryptocurrency remit with the right tools and capabilities to target UK-based subjects along with supporting colleagues with specialist advice and guidance.”
The role requires candidates to understand crypto and how it works and also be able to conduct advanced tracing on blockchains, according to its website.
The crypto investigators will support new and existing investigations requiring specialist crypto experience, and the office holder might also assume leadership roles in identifying targets in these investigations.
The base salary for this role falls within the range of ยฃ42,109 – ยฃ45,605 ($51,377.19 to $55,670,) which several crypto community members have decried as too low. X user AlgisLoran pointed out that the salary might be insufficient to keep the investigator from going rogue, saying:
“The guys will quickly investigate ways to make more money in crypto for themselves and will get the know-how of how to avoid being investigated by their colleagues.”
U.K.’s crypto regulation efforts
The job filing represents part of an ongoing effort by the U.K. authorities to bring the emerging crypto industry into compliance.
On Oct. 30, the U.K.’s Treasury office finalized its regulatory approach to the crypto industry, bringing fiat-backed stablecoins under the supervision of financial watchdogs and also introducing a framework for other crypto-related activities.
Before that, the U.K. Parliament had approved a bill allowing law enforcement agencies to confiscate cryptocurrency assets linked to criminal activities, including money laundering, fraud, and ransomware attacks.
Additionally, the Financial Conduct Authority (FCA) introduced new regulationsย obligating companies to caution investors about the potential risks of losing their funds in crypto investment products.
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