FCA’s head of digital assets leaves less than one year after joining

Quick Take

  • Binu Paul, the head of digital assets for the UK’s main financial regulator, has left less than one year after joining.
  • Paul took over the role from Victoria McLoughlin in October and previously worked as a fintech specialist lead at New Zealand’s Financial Markets Authority.

The Financial Conduct Authority’s (FCA) head of digital assets Binu Paul has left the organization less than one year after joining. A spokesperson for the FCA confirmed the departure in an email to The Block.

Paul joined the UK financial regulator in October last year. He previously worked as a fintech specialist lead at New Zealand’s Financial Markets Authority. He took over the head of digital assets role from Victoria McLoughlin who was covering it on an interim basis.

“We are very grateful for all the work Binu Paul has contributed to the payments and digital assets team,” said a spokesperson for the FCA.

McLoughlin has been appointed as the interim head of market interventions in the digital assets team, the spokesperson said. McLoughlin is an FCA veteran who joined the regulator in 2009 as an associate and has worked as a supervision manager overseeing virtual asset service providers (VASPs) and cryptoasset firms at the FCA.

Embracing Web3

Paul's departure comes as the UK aims to become “the world’s Web3 center.” The country has recently celebrated Andreessen Horowitz’s (A16z) decision to set up an international outpost in London. The renowned venture firm is a major player in the crypto industry and has boasted that the UK government “sees the promise of Web3.”

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