US Regulator is Looking for Experts to Combat Crypto-Related Risks and Challenges

The US Financial Crimes Enforcement Network (FinCEN) is recruiting employees who have experienced in dealing with illicit activities related to cryptocurrency. As the crypto industry is growing at a rapid rate, the regulators have also become active to deal with new issues popping out in the digital space.

The Need for Policy Officers

The US regulator is looking for “strategic policy officers” who can easily deal with sensitive tasks. They will also be able to do “assignments related to virtual currency, cryptocurrency, and emerging technology-related including the issuance of advisories and other guidance to financial institutions.”

The main job of the new recruits is to advise over issues related to cryptocurrency. The regulator also demands a true knowledge of the risks attacked with virtual currencies.

Another demand from the employs is that they will have to provide their expert advice over new emerging technologies and possible threats.

The post for two jobs is entitled “National Security Level IV, Special Sensitive.” The post also mentions that policy officers will have to “obtain and maintain eligibility for a Top Secret clearance with Sensitive Compartmented Information (SCI) access.”

2020 is the year of Bitcoin as its price value and adoption have broken all previous records. Due to adoption at a global level, it has now become a great challenge for concerned regulatory authorities to roll out a proper sandbox to tackle cryptocurrency.

Challenges for Regulators

Still, no country in the world has created a straightforward and clear cut policy page for Bitcoin and other cryptocurrencies. Some states in the United States have given a green to cryptocurrency, while few states have banned the usage of Bitcoin as a payment method. China, on the other hand, has banned it completely in the Republic, but peer-to-peer trading of BTC is still going on in the country. To avoid Bitcoin, China has offered an alternative plan of launching the central bank digital currency at a mass level to overcome the needs of new era people. The US in this respect is far behind as there is no solid plan for the development of the US dollar has unveiled.

The second major challenge for the regulators is to deal with possible threats and risks linked with private digital currencies. In order to curb these illegal actions in the digital space, the US regulators have started recruiting experts.