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Bank of England official left his job to work in the crypto industry

Bank of England official left his job to work in the crypto industry 10

Varun Paul left his high-level job at the Bank of England and decided to work in a digital asset custody company – Fireblocks.

The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. This Central Bank is known as the biggest critic of the Crypto & blockchain industry.  At present, UK’s FCA has restricted provisions for the crypto industry. 

Recently Varun Paul, the Head of the Fintech Hub at the Bank of England, informed his connections on LinkedIn that he decided to leave his role at the Bank of England. He also said that it was an emotional decision to leave the 13 years job full of enjoyment.

“I have loved my time here – because of the great people and the varied and incredibly rewarding work. And because I’ve been given the space to drive forward the agenda on the things I’m passionate about.”

According to reports, this decision by Varun is interesting because he left the Bank of England. After all, the Bank was known as the biggest critic of the crypto & blockchain industry. 

Now Varun will work at digital asset custody company – Fireblocks. Company is currently standing at better reputation with its another payment company acquisition and also as a custody solution provider company. 

In May 2021, Bank of England Governor Andrew Bailey warned citizens about crypto investment and claimed that crypto assets are backed by nothing and these digital assets have no intrinsic value. So if any Investor will invest in these cryptocurrencies then that may result in all loss. 

“I’m going to say this very bluntly again. Buy then only If you’re prepared to lose all your money.”

Once Bank of England Governor raised his negative stance on the Bitcoin law Act of El Salvador and claimed that citizens of El Salvador are not aware of what they have.

“the nature and volatility of the currency they have.”

Once El Salvador president Nayib Bukele responded to the comments of the Bank of England Governor and indirectly criticized him with his positive home-coated words. 

Nayib said: 

“Bank of England is “worried about El Salvador’s adoption of Bitcoin? Really? I guess the Bank of England’s interest in the well-being of our people is genuine. Right? I mean, they have always cared about our people. Always. Gotta love Bank of England.”

Read also: Ireland advertisement watchdogs will re-examine crypto ads provisions

Bank of England official left his job to work in the crypto industry


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