New Advisor FinCEN Sees Cryptocurrencies As "Natural Evolution"

Michele KORVER, the first official digital currency advisor at the Financial Crimes Enforcement Network (FinCEN), sees cryptocurrencies as the next natural evolution in the means of payment.

In an interview with Law360, she described cryptocurrencies as the next step in the development of means of payment, which can be compared with other advances in financial technology. Fintech evolves naturally over time, Korver says, and is constantly creating new ways to pay. At the same time, this always entails the criminal abuse of new developments.

Michele Korver was appointed Digital Currency Advisor to FinCEN in early July. She previously held a similar position at the US Department of Justice. In her current role, Korver advises FinCEN acting director Michael MOSIER, and deputy director AnnaLou TIROL on strategic directions to combat the illegal use of digital currencies.

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