US financial Regulator, FinCEN, Appoints its First-ever Chief Digital Currency Advisor
FinCEN announced on Tuesday that has appointed a “Chief Digital Currency Advisor” into its ranks. Michelle Korver, who was DOJ’s Digital Currency Counsel in 2017, has taken on this role. Formerly, she also served as a federal prosecutor for two decades. Adding a “Digital Currency Advisor” to their staff will increase FinCEN’s plan to fight illegal activities involving cryptocurrencies, as every report shows that the misuse of digital assets has gone up.
Ms. Korver will be the advisor to FinCEN director, Michael Mosier, and she will boost FinCEN’s management function by collaborating with all partners to come up with a strategic solution to avoid any illegal activities involving digital currency.
Mosier said that Korver’s expertise in cryptocurrency will make her an excellent addition to FinCEN’s contribution to the innovation of monetary expansion, while diminishing financial risks. While Korver was with the DOJ, she advised federal workers about involving crypto assets that are linked to “charging decisions and other prosecutorial strategies”. Overall, Michelle Korver has a profound background in terms of cryptocurrency policy.
On the other hand, the newly appointed acting director of FinCEN, Michael Mosier, also has a background in digital currencies from his past role at Chainalysis. With the vast experience of these two newly appointed experts, clarity on the future of cryptocurrency regulations is widely expected.
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