UK Financial Watchdog To Hire Crypto Specialists

UK Financial Watchdog To Hire Crypto Specialists

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Regulatory bodies across the world are currently trying to find ways to fully engage with cryptocurrencies. There is a drive to find ways to regulate cryptocurrencies in line with existing rules and regulations and to also protect the public from falling victim to crypto related scams.

One such body working towards finding their way through the crypto industry is the United Kingdom’s Financial Conduct Authority (FCA). The watchdog posted that they are seeking two new candidates who have comprehensive knowledge of cryptocurrencies to add to their team. The candidates being sought after will be working with the Intelligence Services Team at the FCA.

The FCA is developing a team that is focused on dealing with matters relating to digital assets. The team will be working with the Financial Crime Department as per the information provided in the job posting. There is a clear intention on the FCA’s part to be involved in crypto assets and any other crypto related businesses.

Obtaining information about crypto assets, financial and economic crime is part of the mandate given to the two new associates being sought by the FCA. This information will help the FCA to make fully informed decisions and alter their regulations to make sure they cover everything crypto related. The specialists will also be tasked with making sure that the UK is compliant with the European Union’s rules and regulations regarding cryptocurrency.

FCA Developing New Crypto Guidelines

There are new comprehensive guidelines that the watchdog has been working on which are related to the crypto industry. Some of the regulations will be aimed towards giving crypto market participants the clarity they need about regulations around digital assets. The guidelines will also provide a framework that can be used to determine whether crypto assets being used operate within the parameters of the regulations.

Consultation about assistance in creating the regulations ended in April. The final product which will carry a full policy statement is expected to be announced before the end of the summer. The new regulations will offer clarity to both companies and the general public regarding participation in crypto related business. Businesses will also learn whether or not there is any regulatory authorization for transactions and their practices. People who want to buy crypto can be able to refer to the coming guidelines which will assist them to make better decisions.

Having clarity about the parameters in which digital assets are permitted to operate will help online crypto trading in the UK. The industry will be able to grow fully and have more customers on boards. Knowledge that digital crypto exchanges are regulated and are operating within the set regulations will give the general public more confidence in the sector.

This step being taken by the FCA is crucial in the progress of the crypto industry in the United Kingdom. Earlier this month, the regulatory body granted the first ever license to a crypto asset management firm. Under the directive of the European Union, Prime Factor Capital is able to operate as a full scope alternative investment fund manager.

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XPTUSD Consolidating at $833 Price Level, a Breakout Is Imminent XPTUSD Price Analysis – June 13 Until the Bulls break up the $833 price level or the Bears break down $776 price level sideways movement may continue. XPT/USD Market Key levels: Supply levels: $833, $898, $962 Demand levels: $776, $714, $657 XPTUSD Long-term trend: Bearish On the weekly chart, XPTUSD is bearish. This is the third week that XPT price remains on the same level on the weekly chart. The price is ranging at $833 level. The Bulls and the Bears seem to have the same momentum as the same size as the bullish and bearish candle is formed at the same place. Until the Bulls break up the $833 price level or the Bears break down $776 price level sideways movement will continue. Nevertheless, XPT price remains below the 21 periods EMA and 50 periods EMA and the two EMAs are still found at $833 level. The stochastic Oscillator period 14 is at 25 levels with the signal line pointing up to indicate a buy signal. Further increase in the Bears’ momentum may reduce the XPT price to $776 level. The bullish breakout at $833 level may place the XPTUSD at $898 level. XPTUSD medium-term Trend: Bullish XPTUSD is bullish in the medium-term outlook. On July 05, a massive strong bearish candle emerged at $833 level which penetrated the dynamic support level and the price decreased towards $776 level. Along the way, the Bulls interrupted with the formation of inside bar candle which triggered the bullish movement towards $833 level. The XPT price is above the 21 periods EMA and 50 periods EMA as a sign of bullish momentum. Moreover, the stochastic Oscillator period 14 is at 50 levels with the signal lines pointing up to indicate a buy signal. Please note: is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.


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