UK's National Crime Agency Building Specialized Team to Counter Cryptocurrency Scams
Summary:
The UK's National Crime Agency (NCA) plans to establish a specialized team to counter increasing cryptocurrency scams, as per a November 4 job posting. The move aligns with the UK's goal to become a crypto-hub, fostering a regulated environment that supports, rather than penalizes, crypto usage. This comes as Coinbase, a crypto exchange platform, shows serious commitment to operations in the UK and Europe, specifically the UK, which is one of their fastest-growing user markets.
To combat the escalating efforts by malicious entities intent on scamming cryptocurrency investors, the United Kingdom's National Crime Agency (NCA) is preparing to establish a dedicated team specialising in digital assets and cryptocurrencies. On November 4th, the NCA published a job vacancy seeking six individuals to form this new unit, which will address crypto-specific crimes and will be a part of either the National Cyber Crime Unit (NCCU) or the Digital Asset Team. The roles require:
"Duties will include aiding ongoing and future investigations where in-depth understanding of cryptocurrency is necessary and spearheading the identification of potential targets for further examination."
The job posting mandates that applicants should have the capability to offer strategic and operational guidance on crypto-related inquiries, carry out forensic inspection of blockchain transactions, and perform analysis on various materials.
Even though it's clear that this new team being set up aims to deal with the increase in cyber threats, the NCA did not provide an immediate response to Cointelegraph's request for a comment. In 2023, the NCA has frequently advertised positions specifically oriented towards cryptographic analysis, hiring at various professional levels. This decision aligns with the UK's objective of transforming into a hub for cryptocurrency, reviving debates over establishing a regulated environment to foster, rather than penalize, crypto usage.
Related: Research indicates London is the most prepared city globally for crypto business.
In August 2023, Coinbase, the crypto exchange platform, verified its serious commitment towards operating within the UK and Europe in light of the upcoming introduction of the Markets in Crypto Assets (MiCA) regulation.
An associated Coinbase article acknowledged the UK as one of their quickest expanding user markets. It further stated: "In essence, Europe's undergoing events that are giving it a leg up, and as the region gears up for a significant shift in utilizing and conceptualizing money in the digital economy era."
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Published At
11/2/2023 7:23:24 AM
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