FinCEN Hires DOJ Crypto Czar as First ‘Chief Digital Currency Advisor’

Michele Korver will advise FinCEN Acting Director Michael Mosier on cryptocurrency's role in financial crime.

AccessTimeIconJul 6, 2021 at 2:59 p.m. UTC
Updated Aug 21, 2021 at 6:49 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The U.S. Financial Crimes Enforcement Network (FinCEN) said Tuesday it's adding a "Chief Digital Currency Advisor" to its ranks.

Michele Korver, who joined the U.S. Department of Justice as its first "Digital Currency Counsel" in late 2017, will consult with FinCEN Acting Director Michael Mosier on cryptocurrency's role in financial crime.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • The hire offers another sign that FinCEN is re-upping its crypto focus.

    "Ms. Korver will advance FinCEN’s leadership role in the digital currency space by working across internal and external partners toward strategic and innovative solutions to prevent and mitigate illicit financial practices and exploitation," FinCEN said in a press statement.

    Although this is the first position of its kind at FinCEN, it’s not the first time the agency has hired someone with crypto experience. Mosier himself used to work at blockchain sleuthing firm Chainalysis as its chief technical officer.

    Earlier this year, Korver wrote a section explaining how cryptocurrencies may be used by criminals in the Department of Justice's Journal of Federal Law and Practice.

    Alongside co-author Alexandra Comolli, Korver wrote that crypto will likely be decreasingly associated with money laundering as it becomes more widely accepted.

    "In the early days of cryptocurrency, a great deal of activity was tied to illegal conduct on the dark web, which is why the shuttering of dark web marketplaces could impact the value of bitcoin," she wrote. "But as mainstream adoption of cryptocurrency has grown, the percentage of transactions used to promote or conceal crime has also decreased."

    Nate DiCamillo contributed reporting.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about