Wednesday, May 18, 2022
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US Treasury Hiring Crypto Policy Officers

The Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury posted 2 vacancies for strategic crypto policymakers in order to seek expert advice on crimes related to digital assets.

According to the details of the mentioned position, FinCEN plans to hire policy officers to counter legal challenges associated with cryptocurrencies. The financial intelligence unit expects new officers to give subject matter expertise on crypto identity issues.

FinCEN mentioned that both positions are permanent with a salary range of $102,663 to $157,709 per year. The crypto policy officers will be based in Washington and the closing date for the positions is 28 December.

“The strategic policy officer will provide expert advice on cryptocurrency, virtual currency and emerging technology-related illicit finance threats, risks and vulnerabilities to assist in the development of policy responses to these challenges. Officers will provide subject matter expertise on regulatory technology, financial technology and digital identity issues. They will perform a range of extremely complex and sensitive assignments related to virtual currency, crypto and emerging technology-related, including the issuance of advisories and other guidance, to financial institutions,” the Treasury department mentioned on the website.

Crypto Regulations

The recent steps by FinCEN indicate that the most prominent financial crimes watchdog within the US Treasury is clear about its strategy for cryptocurrencies regardless of who takes the Treasury office in the coming months. Several politicians in the US expressed interest in Bitcoin and other digital currencies and asked for a clear regulatory framework for crypto companies to operate in the country. The newly-elected US Senator from Wyoming, Cynthia Lummis announced to educate other Senators about Cryptocurrencies next year. Furthermore, she mentioned that Wyoming has made significant progress in terms of crypto regulations.

The state of New Jersey introduced the Digital Asset and Blockchain Technology Act earlier this year to regulate crypto service providers under the department of banking and insurance. The US Congresswoman, Rashida Tlaib introduced the STABLE Act to protect consumers from illegal Stablecoins in the country.


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