UK Regulator FCA Names Interim Head for Digital Assets Unit

The U.K. has been accelerating its efforts to regulate digital assets in recent weeks as the government seeks to establish the country as a crypto hub.

AccessTimeIconApr 20, 2022 at 11:37 a.m. UTC
Updated May 11, 2023 at 3:57 p.m. UTC

The U.K.'s Financial Conduct Authority appointed Victoria McLoughlin as interim head of its digital assets department as the country ramps up its efforts to regulate the crypto industry and establish its credentials as a global crypto hub, according to her LinkedIn profile.

McLoughlin started her new position earlier this month, her profile shows. For the past two years she has been the financial-services regulator's supervision manager of crypto assets and digital markets. Prior to a one-year break, she had been at the FCA for more than nine years.

The FCA started searching for someone to lead the crypto division in March. It was looking for someone to build a new team and lead regulatory activities regarding crypto firms that may be involved in “scams and frauds," the job posting read on LinkedIn at the time. More recently, the regulator said it would be hiring 80 people to crack down on problem firms.

At the beginning of the month, the U.K. announced a series of initiatives toward its goal of making the country a global center for crypto technology and investments, with Chancellor of the Exchequer Rishi Sunak saying he wanted the country to be a "a global hub for crypto asset technology." The government also reported on a consultation on regulating crypto assets such as stablecoins, saying it will work with the FCA, the Bank of England and Payments Systems Regulator.

The FCA became the U.K.'s authority for anti-money laundering and countering the financing of terrorism at the beginning of 2020, which meant that crypto companies that were residing and operating in the U.K. needed to register with the FCA. A few that have yet to be granted full authorization are on a temporary registration list that has allowed them to continue operating in the country.

The FCA declined to comment on the appointment.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.