Michele Korver, who previously held a similar position in the criminal division of the US Department of Justice, has been assigned to a new position at the Financial Crimes Enforcement Network (FinCEN).
The Financial Crimes Enforcement Network (FinCEN), which is part of the US Treasury and monitors transactions to combat the financing of terrorism and money laundering, has assigned a cryptocurrency advisor for the first time. This post was taken by Michele 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 the effects of illegal financial practices, including crypto scams.
According to The Wall Street Journal, US regulators have been signaling lately that they want to tighten control over the crypto industry.
More money is being invested in the industry, the use of cryptocurrencies 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.
It is not surprising that the US government is taking such decisive measures. Unfortunately, along with the cryptocurrency market’s growth, new schemes for stealing funds and user data appear. So everyone must be cautious with email, notifications, new apps, and investing. That’s how it’s possible to protect yourself from crypto scams.
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LATOKEN does not provide investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like many other assets, cryptocurrencies are subject to high market risk. Please trade with caution.