European financial firms serving cryptocurrency companies intend to increase the staff of B2B sector compliance specialists.
Several companies – Greengage Global Holding, BCB Group, Blockbank and Fiat Republic – have announced their intention to significantly strengthen their compliance teams when serving cryptocurrency industry clients.
Due to the high competition for attracting qualified personnel, a number of financial companies announced about increasing salaries for candidates by 20% of the average level in the labor market.
According to representatives of recruiting companies, the shortage of staff to serve the cryptocurrency industry is caused by the fact that the practice of poaching employees from the traditional financial sector does not work, so there are many more vacancies than experienced specialists.
Recruiters clarify: the wave of collapse of cryptocurrency companies and high-profile scandals in the industry make the transition less attractive for candidates.
“Finding experienced compliance experts is not cheap, and now experts are also entitled to a premium.
However, we plan to double our team over the next five months,” said Natasha Powell, BCB’s director of financial controls.
The other day, the European Securities and Markets Authority (ESMA) issued an official warning to Eurozone investment firms about the risks of investing in cryptocurrencies
and strict compliance with regulatory rules, which remain relevant until the European Union’s Cryptocurrency Regulation Act (MiCA) comes into force.