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London Stock Exchange Group (LSEG) has announced on LinkedIn that it is looking for a crypto assets director. According to the announcement, LSEG, the parent company of London Stock Exchange and other fintech companies, has taken another step in the cryptocurrency market. The company stated that it is looking for candidates who are passionate and knowledgeable about cryptocurrencies and blockchain technology, among other skills and requirements.
Notable Step from LSEG
According to the announcement by London Stock Exchange Group, the crypto asset manager will assist the company in developing and implementing a commercial strategy to enhance LSEG’s brand and ecosystem in the cryptocurrency market, along with a series of new infrastructure solutions and capabilities. A representative from LSEG stated that they cannot provide further details about this development.
The announcement published on LinkedIn came after the London Stock Exchange announced that it would create a traditional asset trading platform utilizing blockchain technology. The historic financial institution stated on September 4th that it plans to use this technology to increase efficiency in storing, buying, and selling traditional assets.
In light of these developments, Murray Roos, the Head of Capital Markets at LSE Group, stated that nothing will be built within the framework of cryptocurrencies after the public announcement.
United Kingdom and Crypto Regulations
The United Kingdom continues to shape the cryptocurrency market within the country after accepting a bill that allows authorities to seize Bitcoin assets used for illegal activities and announcing plans for upcoming stablecoin regulations in October.
In September, the UK financial watchdog issued a marketing compliance warning to crypto service providers and subsequently set a deadline for them to comply with the established standards by January 2024.
With these developments, many companies in the United Kingdom are taking steps to comply with regulations, while notable companies in the cryptocurrency market continue to cease operations in the country. Two of these companies are the world’s largest cryptocurrency market, Binance, and payment giant PayPal.
