FinCEN has appointed its first chief digital currency advisor

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The Financial Crimes Enforcement Network (FinCEN) has recruited its first digital asset advisor.

FinCEN, the American department for financial fraud, has assigned two new posts, including a Chief Digital Currency Advisor, under its Acting Director.

FinCEN is putting cryptocurrency at the top of its priority list

Michele Korver has been named the first Chief Digital Currency Advisor by the Financial Crimes Enforcement Network (FinCEN).

According to the news release, Ms. Korver will work for FinCEN to promote the agency’s leading role in the digital currency field and combat illegal financial activities and exploitation.

Cryptocurrency investors familiar with Ms. Krover are well-known in the legal community as the tough prosecutor in charge of anti-crypto money laundering investigations since 2013. Ms. Korver has worked with different government agencies, advising prosecutors and politicians on digital currency issues, from the Department of Justice to the Treasury Department to a specialized Financial Task Force for financial stability. However, developing cryptocurrency seizure and forfeiture policy and law is one of her most significant accomplishments in the digital assets industry.

According to Michael Mosier, Acting Director of FinCEN, Michele 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 opportunity while minimizing illicit finance risk, according to the press release.

FinCEN’s first Director of Strategic Communications, Jayna Desai, was appointed by Mosier.

Under the Trump administration, FinCEN’s latest legislative proposal was to introduce obligatory Know Your Customer processes for self-hosted wallets in December 2020. Unfortunately, the idea was greeted with opposition from the crypto community, and following President Biden’s appointment, it was put on hold.

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