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U.S. regulator to hire fired crypto companies’ staff

U.S. regulator to hire fired crypto companies’ staff

The U.S. Financial Industry Regulatory Authority (FINRA) has announced that it is ready to hire former employees of the crypto industry who were recently laid off. 

According to Reuters, the corporation plans to increase its pool of industry experts to understand and monitor the market, said FINRA CEO, Robert Cook.

The regulator supervises compliance with OTC and unlisted company securities markets. According to the head of the organization, FINRA is also developing methods to verify digital assets and exploring whether it can conduct cross-supervision of the market in different blockchains.

Cook said that FINRA already counts dozens of employees who managed to get permission to work with cryptocurrencies, so further recruitment of experts in this field appears to be a logical step.

"We're going to need to be engaged and prepared to have the resources to do that, so anybody who is getting laid off from a crypto platform and wants to work for FINRA, give me a call," he said.

On June 14, cryptocurrency platform Coinbase said it was laying off about 18% of its staff to survive the downturn in the crypto field. In early June, the Gemini platform announced it was laying off 10 percent of its staff due to the crypto winter.

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