Thomas Daniels
The London Stock Exchange Group is broadening its technological scope in finance by seeking a director for digital assets, aiming to balance the advances in blockchain with the UK’s increasingly strict financial oversight.
The search for a director of digital assets by the London Stock Exchange Group (LSEG) has piqued the interest of those in the fintech sector.
This role demonstrates LSEG’s dedication to incorporating cryptocurrencies, digital assets, and blockchain technology into its business model.
The advertised position involves crafting and implementing a strategy for new infrastructure solutions, aimed at strengthening the digital footprint of LSEG’s private market sectors.
In line with this, the group has revealed plans for a new blockchain-driven platform to facilitate trading in conventional assets, highlighting a strategic move towards technology that simplifies the processes involved in transacting traditional securities.
However, LSEG’s capital markets chief, Murray Roos, has made it clear that their strategy will not include developing cryptocurrency-focused offerings. This approach is reflective of the overall climate in the UK, where there is a visible hardening attitude towards the domestic digital currency environment.
Recent regulatory developments, such as laws enabling the confiscation of cryptocurrencies linked to criminal activity and impending regulations on stablecoins, point to a stricter regulatory regime on cryptocurrencies.
Additionally, with the Financial Conduct Authority’s deadline for crypto firms to comply with regulations, the UK’s position is clear: the country is adopting blockchain innovations with caution and within a framework of rigorous regulatory control.
