02 August 2022

European Banking Authority warns talent shortage will impact crypto regulation

Written By FinTech Alliance

European Banking Authority warns talent shortage will impact crypto regulation

The EBA has warned that a lack of regulatory talent is adding to concerns around the capacity of authorities to regulate the industry

IN BRIEF:

Earlier this year the EU reached a landmark crypto regulation requiring the authorisation of digital asset firms to operate

Increased regulation such as MiCA, as well as increasing crypto investments, makes regulatory guidelines all the more pressing to monitor digital asset marketplaces and protect consumers

Rising inflation, alongside an increasingly competitive jobs market within crypto, has made attracting possible hires more difficult for regulators such as the EBA

 What does this mean?

Chair of the European Banking Authority (EBA), Jose Manuel Campa, notes that retaining talent is a “major concern…particularly in the areas of technology, anything related to crypto, digitisation…This is in high demand across society.”

Read more.

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