UK’s Crime Bureau launches Crypto Division

Sahana Kiran

An increased number of crypto-related offenses has prompted governments across the globe to roll out new laws. The United Kingdom National Crime Agency [NCA] has taken a step forward and decided to roll out a unit for crypto assets.

According to a job advertisement, the NCA is currently recruiting officers that specialize in the sector. The job summary further read,

“This role will be part of a new project that will form a specialized cryptocurrency and virtual assets team. The team will sit within NCCU Op Support. The role will support existing and new investigations where specialist cryptocurrency experience is required along with taking a proactive lead in identifying targets for further development.”

The salary for this particular role ranges from £40,209 – £43,705. In addition, interested candidates have until January 10, 2023, to apply for the job.

Back when UK’s Prime Minister Rishi Sunak was the chancellor, he vowed to make the UK a “crypto hub.” However, the ever-surging crypto crime rate may hinder substantial growth. The total amount lost to cryptocurrency fraud in the country increased by a third in 2022. According to Action Fraud, the UK’s official reporting system for fraud and cybercrime, scammers looted £226 million from investors in the year.

The latest development, however, could boost the adoption rate of crypto while lowering the crime rate. Additionally, Interpol announced the set up of a dedicated crypto unit in Singapore.

Binance de-lists several GBP crypto pairs

Earlier today, the world’s largest crypto exchange, Binance announced the removal of several trading pairs. This included APE/GBP, CAKE/GBP as well as SHIB/GBP.

Alongside removing the above-seen spot crypto trading pairs from its platform, Binance also intends to stop offering strategy trading services for them.

Furthermore, the purpose of this statement is to serve as a warning to users who may be using automated trading strategies or strategy sandboxes, informing them that they must update or discontinue their use prior to the service’s termination in order to prevent any possible losses. This was quite surprising to many as Shiba Inu has been a popular crypto asset on several exchanges.