Victoria McLoughlin Leads FCA's Digital Assets Department

Stepping Into Leadership

After over 11 years of dedicated service, Victoria McLoughlin has stepped into the pivotal role of interim head of the United Kingdom’s Financial Conduct Authority (FCA) digital assets department. This new chapter began in April when she transitioned from her previous role as supervision manager for crypto assets and digital markets, a position she held for more than two years.

Experience You Can Trust

McLoughlin’s journey with the FCA kicked off back in 2009 as an associate. Given her extensive background, it’s no surprise that she’s well-prepared to tackle the unique challenges of regulating digital assets. Her career trajectory has seen her oversee the supervision of virtual asset service providers, making her a comprehensive choice for guiding the regulatory future of cryptocurrencies and related technologies.

Forward-Looking Vision

In her LinkedIn announcement, McLoughlin expressed her enthusiasm for leading an important sector at a critical time. “It’s an incredibly important time for the sector,” she stated. “It will be a real privilege to lead delivery of our supervisory strategy & our fantastic specialist teams in a new FCA Department as we shape the future of financial services & deliver good outcomes for consumers, markets & firms in coming months.”

Regulatory Responsibilities

As the interim head, McLoughlin’s responsibilities encompass the supervision of digital asset firms within the UK and aiding in the formation of a robust regulatory framework that aligns with the government’s “vision for crypto.” With numerous firms operating under temporary status, her leadership will be essential in navigating compliance and ensuring a productive regulatory environment.

Crisis Management

This year has been eventful for the FCA, as several active investigations into unregistered crypto firms have emerged. Firms looking to venture into crypto asset activities must register with the FCA or obtain temporary operating status. As of April 7, only five firms were allowed to continue under temporary registration, demonstrating the FCA’s stringent approach towards maintaining standards in the ever-evolving digital landscape.