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UK NCA creates crypto team, actively hiring

Dutch police have arrested a man suspected of laundering tens of millions of euros in cryptocurrencies by converting bitcoin to Monero to make it harder to trace

Dutch police have arrested a man suspected of laundering tens of millions of euros in cryptocurrencies by converting bitcoin to Monero to make it harder to trace

The UK’s National Criminality Agency (NCA) will create the National Cyber Crime Unit (NCCU) Crypto Cell to investigate cryptocurrency crime aggressively.

The National Cyber Crime Unit Crypto Cell “signals an enhanced emphasis” on crypto asset enforcement. After making a statement that they were hiring, the NCA confirmed that five NCCU officers would form the inaugural squad. 

NCA opens tender for crypto cops

According to the recent job posting, the government agency will assist ongoing and future investigations that need cryptocurrency expertise and will “proactively lead” in identifying possible targets for further inquiry.

According to a spokeswoman, the NCA’s interest in crypto crime “is not a new phenomenon,” but this new team “signals an intensified emphasis” on crypto assets. Due to their prominence in cybercrime, the NCA frequently investigates crypto assets, the spokeswoman said.

Successful applicants with blockchain forensic investigation experience have until Jan.10 to apply for the new post. Candidates can anticipate a salary of $48,200–52,400 if hired.

UK watchdogs have an eye on crypto

The UK has been strengthening its public sector to curb the use of cryptocurrency for criminal conduct.

The Economic Crime and Corporate Transparency Bill, presented in September, expanded the police’s powers over cryptocurrencies to “clamp down on kleptocrats, organized criminals and terrorists exploiting the UK’s free economy.”

According to its annual report, the NCA seized approximately £27 million ($33 million) in crypto assets in 2021-22, up from zero in 2020-21. In the Queen’s address given by Prince Charles on May.10, the UK government said that adopting cryptocurrencies would be one of its goals for the next parliamentary year.

Prince Charles outlined the UK government’s efforts to assist the safe use of cryptocurrencies and the development of tools for more swiftly and efficiently seizing and reclaiming cryptocurrency assets.

The government’s key goals were aiding the NHS to reduce COVID-19 backlogs, safer streets, and economic growth.

To promote the growth of numerous industries, Prince Charles identified a total of 22 measures that would be submitted. The UK government, whose regulators recently banned crypto.com NFT,  promotes economic development to lower the cost of living and provide access to high-paying, high-skill employment for more people. 

UK’s crypto adoption bill

The UK earlier presented legislation related to the adoption and regulation of cryptocurrencies. First, the Financial Services and Markets Bill intends to preserve and strengthen the UK’s reputation as a global financial services leader and to take advantage of Brexit.

Additionally, the bill intends to take advantage of new technological possibilities in financial services, including fostering secure cryptocurrency usage and resiliency in outsourcing to tech companies.

The UK seems to be among the most interested watchdogs in crypto, as many other watchdogs sparked interest in the blockchain ecosystem amid the collapse of FTX.

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