FinCEN appoints the first chief crypto advisor

The United States Treasury’s Financial Crimes Enforcement Network (FinCEN) has recruited Michele Korver, who formerly worked for the Department of Justice, to be FinCEN’s first Chief Digital Currency Advisor. Korver will work to “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”

Since 2013, Michele Korver has been partnered with the Department of Homeland Security and private technology companies for crypto-related anti money laundering activities. “Michele brings a wealth of digital currency expertise, and will be a tremendous leader in coordinated efforts to maximize FinCEN’s contribution to the innovative potential for financial expansion of opportunity while minimizing illicit finance risk.” said FinCEN’s acting director Michael Mosier.

On the other hand, Chinese authorities sent out another crypto crackdown warning to Beijing Qudao Cultural Development as it provided software services for crypto trading. According to the announcement from the People’s Bank of China, the bank warned financial institutions not to provide and promote crypto trading or any related services, and said customers better not to involve in crypto investment as it is highly speculative which they should bear in mind.

TideBit is a leading crypto asset exchange supporting fiat currency.