FinCEN advisor cryptocurrencies are another means of payment

FinCEN advisor cryptocurrencies are another means of payment

Digital assets are another means of payment or value transfer that evolves over time, as does any financial technology. FinCEN Digital Asset Policy Advisor Michelle Korver told Law360.

"Financial technology evolves over time and innovation in payments and value transfer will continue. The use of the financial ecosystem for criminal purposes will also always exist," she said.

Korver added that she thinks the new technologies are "cool and interesting". The increased scrutiny of cryptocurrencies by US regulators was attributed by FinCEN's advisor to an increase in encryption virus attacks.

Recall that in July 2021, FinCEN created the position of Digital Asset Policy Advisor and invited Korver to work with "internal and external partners".

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