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Financial watchdog FinCEN recruits first chief digital currency advisor – Regulation Bitcoin News

After the Financial Crimes Enforcement Network (FinCEN) made explaining the misuse of cryptocurrencies a national priority last week, the bureau announced Tuesday that it has appointed its first chief digital currency advisor. FinCEN Acting Director Michael Mosier elaborated that Michele Korver will be the bureau’s new crypto expert and that she brings “a wealth of digital currency expertise”.

FinCEN lists former DOJ digital currency consultant as new chief digital currency advisor

FinCEN, the US regulator that combats domestic and international financial crimes, has announced that the organization has appointed the first Chief Digital Currency Advisor (DCA). Michelle Korver would be FinCEN’s first DCA when she worked for the Department of Justice (DOJ) and served as a former federal prosecutor for 20 years.

Korver will serve as the DCA to FinCEN’s director and aims to “further FinCEN’s leadership role in the digital currency sector by working between internal and external partners.” FinCEN is set to double down on illicit use of cryptocurrencies, as the financial regulator spoke about the “misuse of virtual assets that exploit virtual assets” in last week’s Priorities report.

“Michel brings a wealth of digital currency expertise, and will be a tremendous leader in coordinated efforts to maximize FinCEN’s contribution to the innovative potential for financial expansion of opportunities while minimizing illicit finance risk,” Mosier said Tuesday.

While working with the DOJ, Korver served as a digital currency advisor to the Department of Criminal Justice. It has advised federal employees on matters involving crypto assets that involve “charging decisions and other prosecution strategies.” As far as digital currency policy is concerned, Korver has also worked with the Treasury’s Financial Stability Monitoring Council and the Financial Action Task Force (FATF).

Michael Mosier, who was recently named Acting Director and new Deputy Director on April 2, 2021, also has a background in cryptocurrencies. When FinCEN named Mosier as its current director, the Strategic Communications Regulatory Office said that Mosier worked with Chainalysis.

As for the hiring of Korver and a new FinCEN Director of Strategic Communications, Mosier commented: “These are incredible people making for an incredible moment for FinCEN and the financial integrity space is huge.”

What do you think about FinCEN hiring a digital currency advisor? Let us know what you think about this topic in the comment section below.

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Acting Director, Chainalysis, crypto assets, cryptocurrencies, digital currency advisory, digital currency advisor, DOJ, FATF, Financial Stability Oversight Council, FinCEN, FinCEN Digital Currencies, Michael Mosier, Michel Korver, regulation, regulation, regulatory

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