Michelle Korver, who was appointed by FinCEN, has been fighting against money laundering as as early as 2013, when she joined the company.
FinCEN has hired Michele Korver, a former employee with the United States Department of Justice, to be the agency’s first chief digital currency advisor. Korver formerly worked for the DOJ.
According to a statement released by the agency on Friday, Korver will work to “FinCEN’s leadership role in the digital currency space by collaborating with internal and external partners to develop strategic and innovative solutions to prevent and mitigate illicit financial practises and exploitation,” financial practises and exploitation in the digital currency space by collaborating with both internal and external partners.
Korver is an altcoin investor’s moniker, since she once worked as a digital currency attorney for the DOJ’s criminal section.
She also advised the Treasury Department’s Financial Stability Oversight Council on cryptocurrency rules and asset seizure and forfeiture.
Korver worked for ten years as an assistant United States attorney, where she prosecuted cases involving cybercrime and national security breaches.
Korver was active in anti-money laundering operations with the Department of Homeland Security and commercial technology businesses for almost three years starting in 2013.
Michael Mosier, FinCEN’s Acting Director, stated that Korver has considerable expertise crafting digital currency legislation:
Michele brings extensive digital currency experience to FinCEN, and she will play a major role in coordinating efforts to maximise FinCEN’s role in facilitating new opportunities for growth while mitigating illicit financing risk.
FinCEN said on Friday that it has hired Jayna Desai, a former employee of U.S. Customs and Border Protection, as the agency’s first head of strategic communications.
FinCEN has singled out the cryptocurrency industry in its continuing battle against money laundering.
By early July, the agency made it a priority to track cryptocurrency transactions in the battle against terrorism financing and money laundering.
FinCEN has also targeted unhosted bitcoin wallets, which they think may create AML and CTF problems.
FATF, an intergovernmental organisation that develops anti-money-laundering standards, also raised similar concerns.
Concerns over the bitcoin sector continue to mount for banking regulators.
The SEC has accused a cryptocurrency issuer with “making materially false and misleading statements” in connection with an unregistered initial coin offering (ICO) that happened during the bull market of 2017-18.