Michelle Korver, who previously held a similar position in the criminal division of the US Department of Justice, has been appointed to a new position at the Financial Crimes Enforcement Agency (FinCEN).
The Financial Crimes Agency (FinCEN), which is part of the US Treasury and monitors transactions to combat the financing of terrorism and money laundering, has appointed a cryptocurrency advisor for the first time .
This post was taken by Michelle Korver, who was previously a cryptocurrency advisor at the US Department of Justice.
At FinCEN, Korver will work on strategic and innovative solutions to prevent and mitigate illicit financial practices.
Recently, US regulators have signaled they want to tighten control over the crypto industry, The Wall Street Journal notes .
More money is being invested in the industry, the use of cryptocurrency is expanding, and the lack of regulation of the crypto market is a concern, said Dan Berkowitz, a member of the Commodity Futures Trading Commission (CFTC).
At the end of May, the head of the US Securities and Exchange Commission (SEC) Gary Gensler, during a hearing in the US House of Representatives, called for the development of a regulatory framework for the functioning of cryptocurrency exchanges.
