Matthew Long, the director of the UK multi-agency National Economic Crime Command (NECC), has been appointed as the Financial Conduct Authority’s (FCA) new director of payments and digital assets. Long has held a variety of positions in the fight against economic crime and illegal funding.
The UK director of the multi-agency National Economic Crime Command (NECC) has been named as the Financial Conduct Authority’s (FCA) new director of payments and digital assets.
The appointment of Matthew Long was revealed by the regulator in a press statement on Tuesday, among with other senior appointments. The newly created position will oversee the e-money, payment, and crypto-asset markets as well as lead associated policy development.
In mid-March, the regulator launched a search for a crypto head as pressure increased ahead of its deadline for issuing businesses anti-money laundering licenses, which would let them to continue operating in the UK. Victoria McLoughlin was named interim head of digital assets in April.
Because of the complicated and lengthy licensing process, some companies, like marketmaker B2C2, Blockchain.com, and BCB Group, have chosen to seek regulatory permission elsewhere.
Long will begin working for the FCA in October. His previous responsibilities included combating economic crime and illegal finance, as well as leading responses to organized crime, modern slavery, human trafficking, drugs, guns, and borders.
He also led the UK Financial Intelligence Unit (UKFIU), which is responsible for receiving, analyzing, and disseminating financial intelligence received through the Suspicious Activity Reports Regime on a national level. Long previously worked as a police officer.
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