After the Financial Crimes Enforcement Network (FinCEN) explained last week that the abuse of cryptocurrencies is a national priority, the bureau announced on Tuesday that it had hired its first chief digital currency advisor. Michael Mosier, Acting Director of FinCEN, explained in detail that Michele Korver will become the new encryption expert of the bureau, and she has brought “rich digital currency expertise.”
FinCEN hires a former digital currency consultant from the Ministry of Justice as the new chief digital currency consultant
FinCEN, a US regulator that combats financial crimes at home and abroad, announced that the organization has hired its first chief digital currency advisor (DCA). Michele Korver will be FinCEN’s first DCA. She previously worked at the Department of Justice (DOJ) and served as a former federal prosecutor for 20 years.
Korver will serve as the director of FinCEN’s DCA. Her goal is to “enhance FinCEN’s leadership in the digital currency field through cooperation with internal and external partners.” FinCEN is prepared to double down on the illegal use of cryptocurrencies, as financial regulators talked about “abuse of virtual assets” in their priorities report last week.
“Michelle brings a wealth of digital currency expertise and will become a great leader in coordinated efforts to maximize FinCEN’s contribution to the innovative potential of financial expansion opportunities while minimizing illegal financial risks,” Mosier said on Tuesday.
During the cooperation with DOJ, Korver served as the digital currency consultant for the criminal department of the department. In cases involving “accusation decisions and other prosecution strategies,” she has advised federal employees on matters involving crypto assets. In terms of digital currency policy, Korver also cooperates with the Financial Stability Supervisory Committee and the Financial Action Task Force (FATF) of the Ministry of Finance.
Michael Mosier was recently appointed as acting director and new deputy director on April 2, 2021. He also has a background in cryptocurrency. When FinCEN appointed Mosier as its current director, the regulatory agency’s Office of Strategic Communications pointed out that Mosier was cooperating with Chainalysis.
As for hiring Korver and the new FinCEN strategic communications director, Mosier said: “For FinCEN, these people are incredible moments, and there is a lot of room for financial integrity.”
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