FinCEN Adviser: Cryptocurrencies Are Another Means of Payment

Digital assets are another means of payment or a method of transferring value that evolves over time, as with any financial technology. This was stated by Michelle Korver, FinCEN FinCEN adviser on developing policy related to digital assets, in an interview with Law360.

“Fintech evolves over time, and innovations in payments and value transfer will continue. The use of the financial ecosystem for criminal purposes will also always exist,” she noted.

Korver added that she finds the new technologies “cool and interesting”. She linked the heightened regulatory attention to cryptocurrencies from U.S. regulators to a rise in ransomware attacks.

In July 2021, FinCEN created the post of advisor for developing policy related to digital assets and invited Korver to work with internal and external partners.

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