FinCEN continues to strengthen in dealing with the evolution of digital assets. Michele Korvers is FinCEN First-Ever Chief Digital Currency Advisor and First Director of Strategic Communications.
Korver’s career has taken her to the deepest criminal underworld, hunting down criminals who use digital currencies to fund their misdeeds.
But as the debate rages on the regulation of digital assets, Korver, has no resentment towards crypto. Speaking to Law360 on July 29, the newly appointed Korver said
“To me, it’s just another form of payment or value transfer that has developed over time, like any financial technology,” said Korver, a longtime lawyer and advisor with a focus on digital assets. “It’s something that exists in the financial ecosystem”
Korver offered a cool assessment of the digital asset sector, describing it as a natural evolution. “Financial technologies evolve over time and the innovation of money payments and value transfer will continue,”. “The criminal use of the financial ecosystem will always exist too.” she said.
“For me specifically, I’ll be assisting FinCEN with its responsibilities for enforcing the Bank Secrecy Act as it relates to “Convertible Virtual Currency”, digital currencies and blockchain technologies,” she said.
FinCEN is a bureau of the U.S. Department of the Treasury that is tasked with collecting and analyzing financial transaction data to combat domestic and international financial crimes, such as money laundering and terrorist financing.
