Citigroup, a New York-based financial-services giant, is looking for Bitcoin professionals to strengthen its anti-money laundering team.
As advertised on Linkedin’s job board, the company is looking for a Vice President and a Senior Vice President to explore risks associated with money laundering in Bitcoin, and other cryptocurrencies.
To apply for the latter position, “knowledge of cryptocurrency and bitcoin monitoring” is a must.
Moreover, for both positions, the company is asking for the so-called Bitcoin Professional Certification. Though it is not mandatory, having this certification will boost potential candidates’ chances for the position.
According to the ad, the Senior Vice President “will support the Global Head of AML Monitoring Risk Management-Emerging Risk by identifying, analyzing, and implementing AML transaction monitoring risk programs related to developments in cybersecurity, cryptocurrency, and emerging payment technologies, products, and methods.”
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However, the requirement of Bitcoin Professional Certification is odd, as unlike other certifications on the financial domain, it is far less credible. Anyone can be a certified Bitcoin professional by taking a number of courses on the internet, offered by groups like the Cryptocurrency Certification Consortium. Usually, this type of certification would include a two years course followed by a 20-minute test.
Other than Citigroup, no other firm on Linkedin’s database is seeking professionals with a Bitcoin Professional Certification.
Citigroup’s bias against crypto
Similar to other Wall Street mammoths, Citigroup is also hostile towards the booming cryptocurrency sector. Earlier this year, the firm joined JP Morgan Chase and Bank of America to ban its customers from purchasing cryptocurrencies using the bank-issued credit cards citing the risk issues of the nascent sector. The Indian wing of the bank went a step ahead and barred the use of both its credit and debit cards for all crypto-related transactions.
Moreover, Citigroup did not follow its market counterparts like Goldman Sachs and Morgan Stanley to immediately clear Bitcoin futures trades for its clients.
According to Ryan Taylor, CEO of DASH, this move by Citigroup indicates that the firm is seriously looking at risks surrounding the nascent market for digital currencies.
“The job ads are intentionally vague. They are either identifying risk to eliminate certain profiles [or trying to] cut ties with riskier activities…,” Taylor told Business Insider.