Recent legislative challenges in India, the People’s Republic of China and the USA have called cryptocurrency trading into question in those regions. This has led some speculators to assume that similar manoeuvres could be on the rise in the UK. However, the recent acquisitions of several top executives by cryptocurrency trading organisations would seem to suggest that industry analysts feel that the overall direction of the marketplace is away from these kinds of changes.
Paramount among these is former finance minister Philip Hammond, who once served as Chancellor of the Exchequer under Prime Minister Theresa May. News broke that the Lord Hammond of Runnymede was signing on with cryptocurrency trading firm Copper.co in some sort of advisory role, though what that might constitute still remains to be seen. In any case, however, these signings would seem to suggest that there’s an altogether bullish outlook for the future of cryptocurrency in British markets.
Major Players Signing On with Crypto Traders
An individual like Hammond would be unlikely to make such a career move if he had any doubts that MPs would be instituting any sweeping compliance-related changes in the next few years. Though there has been a fair amount of discussion in Parliament over whether or not additional regulation should be put into place, it doesn’t appear that any immediate laws are to be put in place. This increases the chances that some domestic cryptocurrency firms can sign other personalities with just as much experience in the financial industry as a whole.
This marks a major change in the way that cryptocurrency traders acquire talent in the UK. For the longest time, most companies were content with signing on existing traders from other companies, many of which had begun recently as small startups. The Lord Hammond represents the so-called old guard of banking specialists, many of whom have been working in the field of finance all of their lives. Some might assume that this would suggest that cryptocurrency trading has come of age in a way that few insiders could have predicted just a couple of years ago.
Others have opined that it’s increasingly likely that foreign firms will be able to latch onto British talent and get advice from them, even if only remotely.
Acquiring Talent Across International Boundaries
As the first Portuguese-based crypto exchange recently opened, a greater number of investors are looking to do business internationally in spite of the fact that trading blockchain tokens with EU member states poses some unique challenges. Continental firms may soon start to reach out to a larger number of British experts in spite of these difficulties, which could further increase the trend.
Financial experts are also likely to use digital tools in order to stay in touch with their clients as well as any outside specialists that they communicate with. This is in marked contrast with the traditional machinations of the financial industry, which have remained surprisingly conservative in the face of numerous technological advances. Lead generation tools have been relatively uncommon until recently, though they’re quickly becoming indispensable for those doing business internationally.
Certain segments of the industry have gone so far as to treat their cryptocurrency exchanges like any other sales firms, and they’re starting to bring in personnel to match.
Potential New Careers for Sales Experts
There’s always been more to trading than simply building a cryptocurrency portfolio, but few have sold as aggressively as a few exchanges are now. Those who have are bringing in people who are experienced in the field of sales.
There are certain tricks of the online sales trade that are used to ensure that consumers buy into a specific product or service. Career sales personnel who have trained to deploy those kinds of techniques are quite valuable to aggressive cryptocurrency trading providers, especially if they have particularly clear reputations and have always ensured to operate within all of the boundaries that define the profession.
In some ways, it appears that the overall direction of the industry is making it so that these firms are focusing more and more on B2B sales. Though that was once unheard of in the crypto market, it’s quickly becoming one of the fastest growing segments for firms that are willing to exploit it.
Considering the talent that’s being brought into many of these operations, it’s indeed quite possible that more firms will be able to do so than any of the traditional financial experts have been able to predict thus far.