Former Chainalysis brass is now FinCEN’s acting director
Michael Mosier will replace Kenneth Blanco as the U.S. government agency’s acting director. The current acting director of the Financial Crimes Enforcement Network, or FinCEN, will bid farewell to the governing body in April. His replacement: Michael Mosier, Chainalysis’ former chief technical counsel. “Director Kenneth A. Blanco today announced several leadership changes impacting the bureau,” said a public statement from FinCEN on Friday, adding:“Director Blanco announced he will depart FinCEN on April 9, after serving as the organization’s director since December 2017. Michael Mosier,....
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Him Das said FinCEN’s current authority under the PATRIOT Act would likely not stop actors from engaging in illicit transactions for ransomware attacks and darknet markets. Him Das, the acting director of the United States Financial Crimes Enforcement Network, or FinCEN, said some of the government bureau’s tools to fight money laundering and terrorism financing may be ill suited for crypto.In a Thursday hearing of the House Financial Services Committee on "Oversight of the Financial Crimes Enforcement Network," Das addressed concerns from lawmakers regarding FinCEN’s authority to pursue....
“My conviction is that address verification is unlikely to be very productive in fighting financial crime.” The post A Commentary On FinCEN’s Proposed KYC Requirements appeared first on Bitcoin Magazine.
FinCEN’s proposed rule regulating “unhosted” wallet transfers has a number of potential issues, including unintended consequences for decentralized finance.
Michele Korver has been involved in crypto-focused anti-money laundering operations since as early as 2013. The Financial Crimes Enforcement Network, or FinCEN, has recruited Michele Korver, formerly of the United States Department of Justice, to serve as the agency’s first chief digital currency advisor.In her role, Korver will be tasked with advancing "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,” the agency announced....
FinCEN Deputy Director Michael Mosier encouraged commenters to provide practical, technical feedback on the rule.