The US Treasury to Work with Cryptocurrency Policy Officers to Fight Crime

Following the number of criminal activities being on the rise from inside and outside of the United States, the country seems to have changed its course of action. In the past, the United States has remained reluctant and cautious of using the services of any crypto-related groups.

However, the administration of the United States is now starting to realize the importance of collaborating with the crypto-industry. Although it is not direct interaction with crypto-industry’s financial institutions, it is still a positive gesture from the US administration towards the industry.

It has been reported that the US Treasury Department is now seeking advice from policy officers in the cryptocurrency industry. The US Treasury is doing this in order to tackle the legal challenges and problems it is facing from the crypto-industry. Therefore, the Treasury has decided to acquire help from the insiders of the crypto-industry who know exactly how the policies are made and followed in the crypto-industry.

The bureau that has been tasked with hiring the policy officers for the US Treasury is the Financial Crimes Enforcement Network (FinCEN). Just recently, it has been reported that the FinCEN has posted two job advertisements for the policy officers from the cryptocurrency industry.

The main reason for hiring policy officers from the cryptocurrency industry is to gain internal knowledge and insights on the crypto-industry. The US treasury alongside FinCEN aims to gain expertise in digital asset crimes and wants to learn how it can tackle them swiftly.

The job postings have been made by FinCEN on December 12, 2020, where it has revealed the description of the requirements. The jobs posted by FinCEN are to fill permanent positions with full-time requirements. The candidates must be experts who specialize in risks and threats related to the crypto-industry.

In addition to the above, the specialists will also be required to share their knowledge in the crypto-industry’s policies and compliance. These individuals will also be taking part in the future policy makings for the crypto-industry. Additionally, the police officers will also help build responses to the challenges that will be faced against those policies.

The FinCEN bureau has also confirmed why it is acquiring the help of the police officers. As per FinCEN, the new policy officers from crypto-space will provide information and insights on different areas surrounding the crypto-industry. Some of the major areas where they seek to gain insights are financial technology, digital identity, and regulations.

The FinCEN has also mentioned the minimum working experience required from the job applicants in the crypto-industry. The positions for the particular job role have been titled ‘GS-13’ and ‘GS-14’ and require at least one year of experience in the same level of expertise and scope.