On March 23rd, Paypal, an internationally renowned digital payments platform posted the job opening for the position of AML (Anti-Money-Laundering) Blockchain Strategy director for their CFC division (Global Financial Crimes ).
According to the organization, the new director —based totally in New York — could be in charge of comparing blockchain's use cases for the prevention of financial crimes, such as cash laundering and terrorist financing, to oversee the whole AML process.
The publisher additionally designated that the proper profile should focus on blockchain-associated possibilities for the employer in terms of strengthening the hazard branch of the agency.
PayPal clarified that the role implies an ordinary review of AML-associated reporting to pick out and oversee critical traits inside a blockchain-associated portfolio through deploying it following the employer's needs.
Broad cryptocurrencies and blockchain historical past required
PayPal calls for that the man or woman has previously held a position in a monetary organization leveraging blockchain technology, with a deep know-how of cryptocurrency risks, collectively with enjoy in AML compliance or regulation enforcement.
It isn't always the primary time that the digital payments massive have expressed an interest in the blockchain and cryptocurrencies environment.
PayPal’s interest in the crypto sphere
Cointelegraph stated on November 19, 2019, that PayPal had led a $4.2 million investment round for TRM Labs, that is a cryptocurrency management platform.
PayPal’s CEO Dan Schulman found out on November 20th in 2019 that he owns Bitcoin (BTC) and highlighted its “very volatile” nature:
“Until it becomes less volatile, it won’t be a currency that is widely accepted by merchants on the web — not the dark web, but the web.”