FinCEN’s new digital currency advisor says that cryptocurrency is “just another payment method”

Michele Korver, the first chief digital currency consultant of the Financial Crime Enforcement Network (FinCEN), believes that encrypted assets are just another way to transfer value.

On July 29, the newly appointed Korver stated in an interview with Law360 that cryptocurrency “is just another payment or value transfer method that has developed over time, just like any financial technology.”

Korver provides A cool assessment of the field of digital assets, describing it as a natural evolution. “Financial technology evolves over time, and innovation in monetary payment and value transfer will continue,” she said. “The criminal use of the financial ecosystem will always exist.” She added:

“Personally, I have worked in this field for a long time, and I think these emerging technologies are cool and interesting.”

Korver was appointed as FinCEN in early July. Prior to that, he served as a digital currency consultant to the U.S. Department of Justice and served for ten years. Assistant Attorney of Colorado, U.S. -She played an important role in combating the Italian Mafia Brussels, a Bitcoin-powered drug trafficking organization.

FinCEN is a bureau of the US Department of the Treasury. Its mission is to collect and analyze financial transaction data to combat domestic and international financial crimes, such as money laundering and terrorist financing.

In her current role, Korver will advise FinCEN Acting Director Michael Mosier and Deputy Director AnnaLouTirol to develop strategies to prevent illegal financial practices.

“Especially for me, I will assist FinCEN in fulfilling its responsibilities for implementing the Bank Secrecy Act, because it is in line with [Convertible Virtual Currency], Digital currency and blockchain technology,” she said.

“This includes ensuring compliance for those who provide financial services involving cryptography or act as financial gatekeepers for such products and activities.”

Korver believes that cryptocurrency has become the new focus of legislators, because recently A series of ransomware attacks Target well-known American companies and infrastructure.

related: Senator Wallon London urges Treasury Secretary Yellen to respond to rising crypto threats

On July 28, President Biden sign A memorandum promising to strengthen the cybersecurity of critical infrastructure after the recent attacks.

The memorandum instructs the Department of Homeland Security and the Department of Treasury to set “cybersecurity performance targets” for all critical infrastructure departments. It also established the Industrial Control System Cyber ​​Security Initiative to promote cooperation between the federal government and companies operating industrial control systems on security issues.