Even though the public’s interest in cryptocurrency has not slowed down in the slightest, there are still risks associated with it. Citigroup acknowledges the potential impact of Bitcoin, yet it aims to gain a better understanding of this new form of money. As such, the company is looking to hire people with a “Bitcoin Professional Certification”.
A Positive Move by Citigroup
If previous years were any indication, the financial sector will not adopt an overly positive attitude toward Bitcoin and other cryptocurrencies. Even so, it seems Citigroup is looking to explore a completely different option, albeit one that will still raise a fair few questions. More specifically, the company wants to further embrace Bitcoin and other cryptocurrencies by hiring new talent.
More specifically, Citigroup wants to further crack down on money laundering practices. Although over nine in ten money laundering transactions occur through banks and other service providers, there has always been a connection with cryptocurrencies as well. Whether or not this means Bitcoin is sufficiently liquid to facilitate such transactions remains to be determined.
Even so, Citigroup is looking to hire Bitcoin “specialists” to ensure they can keep tabs on suspicious transactions denominated in BTC. More specifically, Citigroup wants a VP and a senior VP to explore risks associated with money laundering and cryptocurrencies. Anyone interested in applying for either job would do best to have a “Bitcoin Professional Certification”.
While such a certification doesn’t automatically turn people into actual Bitcoin experts, it would seem to bring a bit more legitimacy to one’s knowledge of cryptocurrencies. With the Senior VP supporting the Global Head of AML Monitoring Risk Management by analyzing and identifying transactions, having proper knowledge in this area is critical. Additionally, the goal is to implement AML risk programs to prevent further money laundering from taking place.
Rest assured this is not the only company out there looking to hire Bitcoin professionals. The bigger question is whether or not this particular “certification” will help more people land jobs in this industry, as it’s something very few companies actively require as of right now. This is an interesting trend worth keeping an eye on, though, as we may see the demand for a BPC rise in the future.
All of this further confirms Citigroup is rather interested in cryptocurrency. While they may not necessarily incorporate it into their existing products and services, it does show the concept of Bitcoin will not be going away anytime soon. This may even bring more legitimacy to the cryptocurrency industry as a whole, depending on whether or not these positions ever get filled. With the current vague wording of the job ads, there is still a fair bit of uncertainty to contend with.
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