Job

Want to work in crypto? University programs can give job seekers a leg up

There is a skills gap in the blockchain industry, and universities worldwide have created programs to help produce the next generation of blockchain professionals.

As talk of the Bitcoin halving, exchange-traded funds and other macro factors seem to point to the beginning of the next bull market cycle for crypto, many might be considering starting a career in this space. It happens to many people involved with Bitcoin (BTC), blockchain or cryptocurrencies.

At first, they are “investors” researching and buying assets in a new digital asset class. For some, this turns into a desire to enter the decentralized ledger technology and blockchain industry. Many have decided to find paths to employment and acquire the skills necessary to jump into careers in this space.

Since the beginning of the blockchain and cryptocurrency industry, most people have found jobs through informal connections or demonstrable skills.

London emerges as world’s most crypto-ready city for business — research

An examination of eight key data points determined London to sport the highest crypto readiness to entice businesses and start-ups.

Along with pro-crypto regulations, mainstream adoption of cryptocurrencies requires a supporting infrastructure that can allow the general public access and exposure to the ecosystem. When considering eight key indicators around taxes, ATMs, jobs and events in crypto, London stands at the top as the most crypto-ready city in the world for businesses and start-ups.

United Kingdom Prime Minister Rishi Sunak’s vision to “ensure the U.K. financial services industry is always at the forefront of technology and innovation” is on the right path, research conducted by Recap shows. An examination of eight key data points determined London to sport the highest crypto-readiness to entice businesses and start-ups.

*Top 20 crypto-ready cities in the world. Source: Recap*

As shown above, leading metropolitan cities such as Dubai and New York made it to the top three in the list. However, Hong Kong, which was positioned as the most crypto-ready country in 2022, fell to seventh place in the research.

*Top 50 crypto hubs, city-wise comparison. Source: Recap*

The above list shows the top 50 major cities with an infrastructure ready for the mass adoption of cryptocurrencies.

Some key factors considered in the study include the total number of crypto-specific events, crypto-related jobs, crypto-specific companies and the number of crypto ATMs. Some of the non-crypto considerations include quality of life, research and development spending as a percentage of gross domestic product and capital gains tax rate.

Of the lot, London is home to the most people working in crypto-related jobs — an indication of higher interest among the general public in the crypto ecosystem. However, other cities overshadow London in some metrics, strengthening the case for the global adoption of cryptocurrencies.

Steering forward in the quest to stay at the forefront, the Bank of England and the His Majesty’s Treasury highlighted the need to launch a central bank digital currency by 2030.

Cointelegraph previously reported that sources claim that the “digital pound” roadmap is set to be introduced by mid-February. The U.K. reportedly experienced a 35% drop in cash and coin payments in 2020, indicating a trend toward cashless transacting.

UK gov’t is hiring a central bank digital currency lead for Treasury team

The team lead will determine the “strategic direction” for Treasury’s efforts to develop a digital pound in line with the U.K. government’s agenda.

HM Treasury in the United Kingdom has begun calling for applicants to lead the central bank digital currency team behind efforts towards a digital pound.

In a job posted to LinkedIn on Jan. 24, the U.K. Treasury called for a team lead for its Payments and Fintech Team of roughly 20 people focused exploring on a “potential digital pound”. According to the posting, the CBDC head would determine the “strategic direction” for Treasury’s efforts to develop a digital currency in line with the government’s agenda, as well as analyze potential policy issues for lawmakers.

“Treasury and the Bank of England are working together through the CBDC Taskforce to explore the case for a digital pound,” said the job posting. “Treasury and the Bank of England have committed to consult jointly on a potential digital pound, and the successful candidate will lead the Treasury team in the wake of the consultation’s issuance, including working with the Bank of England to consider consultation responses.”

Many U.K. lawmakers and industry leaders have all offered their two cents — or rather, pence — on the introduction of a CBDC as the digital asset space grows. Tony Yates, a former senior adviser to the Bank of England, advised against CBDCs in a January interview, arguing it was “not worth the costs and risks.” The current governor of England’s central banks has likewise expressed skepticism about a digital pound.

The U.K. has experienced major shake ups in leadership, from the government going through three prime ministers within a matter of months to Queen Elizabeth II passing in September 2022. However, lawmakers continue to mull policies related to digital asset regulation and enforcement.

At the time of publication, 16 applicants had applied for the CBDC role at Treasury.

Remote work could redefine the global workforce for good

While implementing remote work structures seems to be a priority for most tech firms, there are still some concerns about its long-term efficacy.

As the global economy continues to reel from the devastation caused by the COVID-19 pandemic, there is increasing data suggesting that more and more people are now favoring a remote work-based lifestyle. In this regard, a survey sample of working United States citizens shows that Millennial and Generation Z workers prefer joining a remote workforce and decentralized autonomous organizations (DAOs) as opposed to going to an office.

As part of the study, more than 1,100 U.S. citizens were asked to provide their preferences regarding remote work and the emergence of DAOs in recent years. Using research pertaining to DAOs published by the Harvard Law School, the survey showed how DAOs have seen their coffers grow from a respectable $400 million to a whopping $16 billion over the course of 2021 alone. This staggering growth of 3,900% came in concurrence with the number of people participating in DAOs and other remote work ventures surging from 13,000 to 1.6 million.

Simply put, 75% of the survey’s participants believe that in the near-to-mid term, companies will have to offer their users remote work options whether they like the idea or not, with the authors further noting, “The survey results show that a majority of respondents seek all of the things that DACs provide; remote work opportunities, independence from management, and influence over the organizations they work in.”

Is remote work the future?

To get a better overview of how remote work has continued to redefine the global job market, Cointelegraph reached out to Adam Simmons, chief strategy officer of RDX Works — a core developer for the decentralized public blockchain Radix. In his view, the trend of people opting for remote work will continue to garner more and more traction in the near term, adding:

“As an emerging industry, Web3 has a talent shortage. Today, only around 20,000 developers in the world are sufficiently experienced with Web3 tech to work at a production-grade level, signifying just a fraction of the 27 million developers worldwide. Aside from this being a significant barrier to innovation in the space, it means that the companies pioneering a whole new industry must be open to a global workforce.”

A similar sentiment is also shared by Jacob Kowalewski, chief strategy officer of open hosting platform T3rn, who told Cointelegraph that the remote working trend is likely to continue, especially since advances in technology are making it easier and more accessible for people to pursue such avenues. “With more and more young people choosing to work for themselves or starting their own businesses, the traditional office-based workplace is becoming less and less appealing,” he said.

Brett Fincaryk, marketing lead at Qtum — a scalable proof-of-stake platform — told Cointelegraph that over the last couple of years, hiring remote workers has helped his firm onboard new staff without all the traditional overheads that brick-and-mortar entities require.

Recent: What is institutional DeFi, and how can banks benefit?

“With lockdowns easing across the globe, many workers have been ordered back to the office and simply don’t want to go, so they are now looking for remote work. This has made it easier for us to acquire new talent, and with fewer projects hiring right now, we have more options when sending job offers,” he said.

A look at the numbers

Taking a more statistical approach, Denys Ustymenko, founder and CEO of global IT crypto processing project 1TN, told Cointelegraph that several surveys, including one from Gartner, have shown that prior to COVID-19, 70% of workers had never worked remotely. However, after the pandemic, these numbers have decreased to 38%. And while there are still organizations that are not able to fully embrace remote work, he is convinced that such companies need to adapt to the “new normal” and change their HR policies.

“I would say that Millennial and Generation Z workers pulled the lucky ticket in terms of having the ability to work remotely. In fact, 62% of all employees now expect their employers to allow them to work remotely. Often, organizations may steer away from remote working models for fear their employees may become less productive; however, the opposite is the reality,” he said.

Despite the apparent benefit of the remote working model, Ustymenko noted that being the founder and CEO of a remote-first company has made him realize the challenges that come with it. The most vital being the establishment of a common culture, team building and effective communication among employees. He noted:

“When your entire team is spread across different time zones, poor motivation and a lack of involvement can become a problem. However, such issues can not overwhelm the huge potential that can be reached by making companies remote first.”

Lastly, it should be pointed out that, as of 2022, 16% of companies worldwide now allow 100% remote work, with 27% of these employers reporting a marked increase in company productivity. Moreover, a Forbes article stated that 25% of all professional jobs in North America are destined to become fully remote by the end of 2022.

Not everyone is sold on the idea of remote work

Saad Rizvi, chief procurement officer and partner at SuperLayer — a venture studio focused on Web3 consumer companies — told Cointelegraph he doesn’t believe the idea of an office setting is going to completely disappear or change anytime soon:

“Even large tech companies, which readily embraced the work-from-home model during the pandemic, have been reversing course, drawing the ire of their employees. I think one of the primary reasons behind this effort is the widespread underestimation of the value of in-person interactions.”

Kowalewski also agrees with this assertion, stating that there will always be a need for some jobs that require face-to-face interactions, and therefore, the trend toward remote work will only partially replace the traditional office-based workplace.

“But it’s becoming more popular, and we’re likely to see even more companies offering remote work policies in the years ahead. T3rn provides a fully remote work policy with offices in Lisbon and Berlin,” he added.

Harrison Comfort, co-founder of decentralized finance protocol DAM Finance, believes that while virtual conferences tend to work for a vast majority of a company’s internal meetings — especially if everyone comes prepared and carves out the appropriate amount of time — nothing beats in-person interactions.

Furthermore, he pointed out that, owing to the geographic dispersion of most teams, even office-based work is quickly transitioning into in-real-life meet-ups at local cafes — i.e., wherever the majority of the team happens to be that week. This again is because face-to-face communication is much more effective than texting or video calling.

Remote work’s impact on crypto and blockchain jobs

One of the core values of Web3 is decentralization, and from the outside looking in, remote work matches up with this approach. In this regard, Rizvi believes that for the crypto and blockchain job market, geographical borders aren’t as relevant as they are for more traditional industries:

“From our experience, more remote workers can add meaningful value and momentum to our nascent industry, namely by expanding the available talent pool. I think that we have an extraordinary opportunity right now to capitalize on the exodus from big tech fomented in part by the return to office orders.”

Moreover, he pointed out that many of the projects in the blockchain ecosystem don’t run on the same hierarchical approach that is characteristic of traditional brick-and-mortar businesses.

“By design, these ecosystems are designed to foster collaboration. Collaboration is not limited to an office setting, and the move to remote work is a reflection of that reality,” Rizvi concluded.

Recent: Redeeming physical NFTs: Easier said than done?

Kowalewski believes that as remote work becomes more popular, the blockchain and cryptocurrency industry will benefit from a more diverse workforce with new perspectives, ideas and talents, noting:

“One of the benefits of remote work is that it allows people to work from anywhere in the world. This gives crypto and blockchain companies access to talent from all corners of the globe. And since remote work is available 24/7, companies can hire workers around the clock regardless of their time zone.”

Another benefit of remote work, according to him, is that it eliminates borders and physical limitations as to where someone can live. “This allows for a more multicultural environment where people from all walks of life can work together,” he added.

Thus, as we head into a future driven by decentralized technologies, it will be interesting to see how the rapidly evolving remote work paradigm continues to define the global job landscape as well as the job culture prevalent across organizations worldwide.

Coinbase to cut another 20% of its workforce in the second wave of layoffs

Crypto exchange Coinbase announced a further restructuring plan that involves reducing its workforce by 950 employees to cut operational costs amid the bear market.

Major cryptocurrency exchange Coinbase is starting 2023 with more layoffs, letting go of another 20% of its employees in a second major wave of layoffs.

Coinbase CEO Brian Armstrong officially announced on Jan. 10 that Coinbase will cut 950 jobs as part of the company’s measures to reduce the firm’s operating costs by around 25% amid the ongoing crypto winter.

Armstrong emphasized that Coinbase is “well capitalized,” and crypto “isn’t going anywhere,” but the firm has to proceed with layoffs in order to keep the “appropriate operational efficiency.” As part of a headcount reduction, Coinbase will be shutting down several projects with a “lower probability of success,” the CEO noted, without specifying what projects will be terminated exactly.

Cryptocurrency Exchange, Coinbase, Job — *Cast your vote now*

“In fact, I believe recent events will ultimately end up benefiting Coinbase greatly,” Armstrong stated, referring to the growing regulatory clarity and Coinbase’s opportunities due to the failure of FTX. He added:

“But it will take time for these changes to come to fruition, and we need to make sure we have the appropriate operational efficiency to weather downturns in the crypto market and capture opportunities that may emerge.”

Coinbase’s blog announcement is accompanied by the firm’s 8k form filing with the United States Securities and Exchange Commission, which states that Coinbase’s audited financial statements for 2022 are not yet available.

As part of the restructuring plan to reduce its operating costs, Coinbase expects to spend about 149 million to $163 million, including $58 million to $68 million in cash charges related to employee severance and other termination benefits. The Company expects execution of the plan to be substantially complete by the second quarter of 2023, the filing notes.

The latest layoffs come months after Coinbase initially reduced its headcount by 18% in June 2022, with Armstrong citing a starting economic recession.

Coinbase to cut another 20% of its workforce in second wave of layoffs

Crypto exchange Coinbase announced a further restructuring plan that involves reducing its workforce by 950 employees to cut operational costs amid the bear market.

Major cryptocurrency exchange Coinbase is starting 2023 with more layoffs, letting go of another 20% of its employees in a second major wave of layoffs.

Coinbase CEO Brian Armstrong officially announced on Jan. 10 that the exchange would cut 950 jobs as part of the company’s measures to reduce operating costs by around 25% amid the ongoing crypto winter.

Armstrong emphasized that Coinbase is “well capitalized” and crypto “isn’t going anywhere,” but the firm has to proceed with layoffs to keep the “appropriate operational efficiency.” As part of a headcount reduction, Coinbase will shut down several projects with a “lower probability of success,” the CEO noted, without specifying what projects will be terminated.

“But it will take time for these changes to come to fruition, and we need to make sure we have the appropriate operational efficiency to weather downturns in the crypto market and capture opportunities that may emerge.”

Coinbase’s blog announcement is accompanied by the firm’s 8-K form filing with the United States Securities and Exchange Commission, which states that Coinbase’s audited financial statements for 2022 are not yet available.

As part of the restructuring plan to reduce its operating costs, Coinbase expects to spend about 149 million to $163 million, including $58 million to $68 million in cash charges related to employee severance and other termination benefits. The Company expects the execution of the plan to be substantially complete by the second quarter of 2023, the filing notes.

The latest layoffs come months after Coinbase initially reduced its headcount by 18% in June 2022, with Armstrong citing a starting economic recession.

Crypto layoffs mount as exchanges continue to be ravaged by the prevailing bear market

Many popular cryptocurrency trading platforms, including Kraken and Coinbase, have recently initiated a fresh round of firings.

There’s no denying that the crypto market has been gripped by immense bearish pressure over the past year, as made evident by the fact that the total capitalization of this sector has continued to hover below the $900 billion mark for most of the year after having scaled up to an all-time high of $3 trillion in 2021.

These conditions have been characterized by many companies facing insolvency, as well as many of the world’s top exchanges laying off their staff in recent months. Moreover, the recent FTX debacle has set in motion a contagion effect that has continued to have a major effect on several crypto platforms, dissuading newer investors from entering the space in the process.

Since Q2 2022, a host of prominent crypto entities (including many digital asset trading and lending platforms) such as Terra, Celsius, Bbl, Voyager Digital, Vauld, FTX, Alameda Research and BlockFi, among others, have either collapsed entirely or filed for bankruptcy, thus suggesting more incoming pain for the industry.

Layoffs continue en masse

As the market continues to be faced with major headwinds, several crypto companies, especially exchanges, have had to let go of their workforce. It is estimated that over the first eleven months of the year alone, the industry has witnessed over 26,000 layoffs.

In November, leading cryptocurrency trading platform Coinbase announced a fresh round of job cuts, with the firm reportedly firing more than 60 employees from its recruiting and institutional onboarding teams. What’s more, is that earlier this year, the company laid off 18% of its staff (approximately 1,100 oppositions), with company CEO Brian Armstrong admitting that he had hired more personnel than were required to begin with.

Similarly, on Nov. 30, cryptocurrency exchange Kraken announced that it was going to be parting ways with 30% of its global workforce — which works out to over 1,000 employees — amid the ongoing market downturn. A spokesperson for the firm noted in a blog post:

“Since the start of this year, macroeconomic and geopolitical factors have weighed on financial markets. This resulted in significantly lower trading volumes and fewer client sign-ups. We responded by slowing hiring efforts and avoiding large marketing commitments. Unfortunately, negative influences on the financial markets have continued and we have exhausted preferable options for bringing costs in line with demand.”

It is worth noting that back in June, the company had stated that it was looking to expand and grow its operations, primarily by adding 500 experienced individuals (laid off from other firms) to its roster.

Recent: Bitcoin, Sango Coin and the Central African Republic

Lastly, the aforementioned layoffs haven’t been confined to just American crypto firms, with prominent Australian digital asset exchange Swyftx announcing recently that it had cut 90 jobs. Prior to this development, the company had excused 260 employees, effectively bringing down its total workforce by 35%. Similarly, popular cryptocurrency exchange Lemon Cash, which has large-scale operations in Argentina and Brazil, announced a 38% cut in its workforce a month ago, citing the lack of a clear recovery horizon.

Other similar instances worth noting

Akin to the developments noted above, crypto exchange Bybit too announced that it was going to be initiating a fresh round of job cuts (estimated to be around 250 positions). To this point, company CEO Ben Zhou revealed on Twitter that the firm is currently trying to manage its expenses by refocusing its day-to-day operations, especially with a deepening bear market.

1) Difficult decision made today, but tough times demand tough decisions. I have just announced plans to reduce our workforce as part of an ongoing re-organisation of the business as we move to refocus our efforts for the deepening bear market.

— Ben Zhou (@benbybit) December 4, 2022

According to Zhou, this latest decision will have a direct effect on 30% of his staff, adding:

“Planned downsizing will be across the board. We are all saddened by the fact this reorganization will impact many of our dear Bybuddies and some of our oldest friends.”

Unchained Capital, a Bitcoin (BTC) financial services firm, let go of nearly 630 people in November, effectively reducing its manpower by 15%. In a recent post pertaining to the job cuts, company co-founder and CEO Joe Kelly noted that the layoffs did not have anything to do with the recent FTX saga, stating, “Funding for Bitcoin-backed loans has been materially constrained by recent market events.”

Digital asset and blockchain firm Galaxy Digital, helmed by popular investor Mike Novogratz, also plans on reducing its staff by at least 20% (nearly 170 employees) in order to focus on building for the future and maximizing shareholder value in the long run. It bears mentioning that since the turn of the year, Galaxy’s share value has depleted by a staggering 80%.

Venture capital company focusing on the digital currency market Digital Currency Group (DCG) also downsized by nearly 13% recently, letting go of 66 employees in the process. The crypto conglomerate, which was founded by billionaire Barry Silbert, said it is looking to restructure its finances while also promoting several senior executives.

It is interesting to note that DCG subsidiary Genesis Global Trading is one of the key entities involved with the collapse of 3AC, a popular crypto hedge fund that was one of the first major casualties of the year. DCG’s Genesis Asia Pacific Ltd. had lent Three Arrows $2.4 billion, with the hedge fund putting down the equivalent of $1.2 billion in crypto and other collateral back in October.

Lastly, Dapper Labs, the company behind popular projects including CryptoKitties, NBA Top Shot, NFL All Day, UFC Strike and the Flow blockchain, reduced its headcount by 22% (135 employees) in November.

Founder and CEO Roham Gharegozlou noted, “These reductions are the last thing we want to do, but they are necessary for the long-term health of our business and communities. We know Web3 and crypto is the future across a multitude of industries – with 1000x potential from here in terms of mainstream adoption and impact – but today’s macroeconomic environment means we aren’t in full control of the timing.”

To gain a better understanding of the recent layoffs, Cointelegraph reached out to Xiao Xiao, investment director at HashKey Capital, a digital asset financial services group. In his view, the layoffs are a result of the exchanges being overstaffed as well as the prevailing crypto winter, adding:

“During the bull market, there are many businesses to attend to. Often exchanges work to introduce new business lines, which means it makes sense to hire more people, sometimes more than needed. But in a bear market, companies tend to focus on how to allocate capital more efficiently. When considering their potential ROI, it may not be the right timing for a new business line.”

He noted that as things stand, many companies are trying to cut down on unnecessary costs and are trying to prepare for the next bull run, which is difficult since it requires a lot of personnel. “For many big exchanges, the cash situation remains strong, and therefore they have the ability to retain big teams,” Xiao stated.

Recent: Using blockchain technology to combat retail theft

Gökberk Kızıltan, head of communications for Snapmuse.io — a Web3 platform for content creators — told Cointelegraph that the crypto market fluctuates in parallel with the boom and bust cycles of the tech industry: During every bull market, hundreds of projects appear with their valuations going higher. Then, during bear runs, users make a swift exit, leaving projects with dwindling funds. He added:

“Exchanges underpin this ecosystem. As the gateway to crypto, they are the ones that are required to step and start hiring during times of demand. When conditions change and a crypto winter inevitably sets, they often find themselves too big to survive the conditions. Layoffs are their survival method. The flexibility to hire and lay off based on market conditions give them the agility to satisfy market expectations during booms and busts.”

He further noted that the layoff issue is not specific to the crypto industry alone, stating that the poor macro market conditions also are reflected in the Nasdaq as the tech industry at large has seen a large number of job cuts recently. “I don’t see the reaction of the exchanges to today’s ongoing headwinds any different from those being experienced by most conventional tech companies,” Kızıltan added.

What lies ahead?

The recent slew of collapses that have hit the market stand to usher in a new wave of regulations in the near term. In this regard, up until now, the United States Securities and Exchange Commission and its chairman, Gary Gensler, have continued to stay on the fence when it comes to providing clarity about the legal status of digital assets.

With the FTX downfall sending shockwaves across the globe, however, lawmakers seem to have been left with little to no choice but to implement regulations in the near term. In fact, many believe that the enforcement of quality regulations could revive the crypto economy, helping newer investors enter the market. Therefore, as we head into a future driven by decentralized technologies, it will be interesting to see how the crypto job sector continues to evolve.

Huobi confirms 20% layoffs, denies insolvency rumors

Key Huobi execs, including Huobi Group CFO Lily Zheng allegedly left the company a few months ago following the new shareholders’ takeover.

Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm.

“The planned layoff ratio is about 20%, but it is not implemented now,” a spokesperson for Huobi said in a statement to Cointelegraph on Jan. 6. The representative emphasized that the allegations of Huobi firing as many as 40% of employees is a rumor.

Huobi has established a new organizational structure after the new shareholders have taken over, the spokesperson said, adding that the firm has adjusted the business departments.

“With the current state of the bear market, a very lean team will be maintained going forward. The personnel optimization aims to implement the brand strategy, optimize the structure, improve efficiency and return to the top three,” Huobi said.

In the statement, Huobi also stressed that recent media allegations of the cryptocurrency exchange’s purported insolvency are untrue. The company’s representative stated:

“We are aware of the comments regarding the Huobi App and the safety of user assets. Such unfounded and inflammatory rumors not only damage Huobi’s brand image, but ultimately affect the interests of Huobi users.”

The news comes shortly after Sun publicly addressed rumors of Huobi’s insolvency, saying that the business state of the exchange was fine and user assets were fully protected. He also promised that Huobi will “fully respect the legal demands of local employees.”

As previously reported, Huobi founder and majority shareholder Leon Li sold his entire stake in the crypto exchange to Sun-linked About Capital in October 2022. Apparently, Huobi subsequently launched its reorganization efforts as some key executives left the company soon after Sun took over the firm.

A former Huobi employee told Cointelegraph about leaving the firm a couple of months ago as part of a broader transition when it was rumored that Sun was acquiring Huobi.

“From what I know, there was a management shakeup first,” the former employee noted, asking to remain anonymous. According to the source, Huobi Group chief financial officer Lily Zheng left the company a couple of months ago as well.

Huobi did not immediately respond to follow-up questions from Cointelegraph.

UK looks for a crypto crime fighter with a $50K salary

The United Kingdom’s top crime agency is looking to hire a crypto investigator with experience of identifying and recovering seed phrases.

The United Kingdom’s National Crime Agency (NCA) is taking measures to increase its focus on cryptocurrency crimes and combat criminals.

NCA’s cyber-focused command, the National Cyber Crime Unit (NCCU), is launching a dedicated cryptocurrency unit to investigate U.K. cyber incidents involving the use of cryptocurrencies like Bitcoin (BTC).

Called “NCCU Crypto Cell,” the crypto-focused unit will initially contain five officers dedicated to “proactive cryptocurrency remit.”

“This is a really exciting opportunity which involves working in a team at the forefront of protecting the U.K. from cyber crime,” NCA infrastructure investigations director Chris Lewis-Evans told Cointelegraph. He added:

“Cryptocurrency and virtual assets are widely viewed as specialist areas of knowledge, and this role is key to supporting NCA investigations in which these are used to enable serious criminality.”

As part of the project, NCA is seeking to hire a cryptocurrency investigator with good knowledge of crypto and strong experience in conducting blockchain forensic investigations on serious and organized crime.

NCA’s upcoming crypto crime fighter will be required to provide strategic and tactical advice to investigators in dealing with cases involving crypto, supporting both existing and new investigations. The position requires experience in identifying and recovering seed phrases alongside advanced tracing through blockchains.

The position offers an annual salary between 40,200 British pounds ($48,200) and 43,705 pounds ($52,400). Candidates are invited to apply before Jan. 10, 2023.

NCA’s move aims to increase regulatory focus on crypto assets in the U.K. amid the government’s call to eliminate “dirty money” in the country. In September 2022, the U.K. government introduced a bill aiming to crack down on money laundering and fraud, particularly through expanding authorities’ ability to seize crypto used for illicit purposes.

According to National Police Chiefs’ Council detective chief superintendent Andy Gould, all police forces in the U.K. had all officers trained for investigations involving the seizure of and enforcement of crypto as of October 2022.

UK looks for a crypto crime fighter willing to accept a $50K salary

The United Kingdom’s top crime agency is looking to hire a crypto investigator with experience of identifying and recovering seed phrases.

The United Kingdom’s National Crime Agency (NCA) is taking measures to increase its focus on cryptocurrency crimes and combat criminals.

Called “NCCU Crypto Cell,” the crypto-focused unit will initially contain five officers dedicated to “proactive cryptocurrency remit.”

“Cryptocurrency and virtual assets are widely viewed as specialist areas of knowledge, and this role is key to supporting NCA investigations in which these are used to enable serious criminality.”

The position offers an annual salary between 40,200 British pounds ($48,200) and 43,705 pounds ($52,400). Candidates are invited to apply before Jan. 10.

NCA’s move aims to increase regulatory focus on crypto assets in the U.K. amid the government’s call to eliminate “dirty money” in the country. In September, the U.K. government introduced a bill aiming to crack down on money laundering and fraud, particularly through expanding authorities’ ability to seize crypto used for illicit purposes.

According to National Police Chiefs’ Council detective chief superintendent Andy Gould, all police forces in the U.K. had their officers trained for investigations involving the seizure of and enforcement of crypto as of October.