Former DOJ crypto advisor joins FinCEN in newly created crypto position
July 6, 2021, 11:30AM EDT
1 min read
The Financial Crimes Enforcement Network (FinCEN) has created an advisory position for digital currency policy. The agency has installed Michele Korver as chief digital currency advisor to the director of FinCEN, according to a statement today.
Korver has served as a crypto advisor to a number of government arms, serving as digital currency counsel for the United States Department of Justice’s Criminal Division, an advisor to the U.S. Department of the Treasury’s Financial Stability Oversight Council and part of the U.S. delegation to the Financial Action Task Force (FATF).
At the DOJ, Korver developed policy related to crypto forfeiture procedures in legal proceedings. She also coordinated money laundering investigations, playing a key role in the first nationwide operation targeting a darknet cryptocurrency ring and bringing the first crypto money laundering case in the Central District of California.
At FinCEN, she will work "across internal and external partners toward strategic and innovative solutions to prevent and mitigate illicit financial practices and exploitation," related to digital currency.
Before installing its own crypto czar, the agency was already seeking industry help with cybersecurity and privacy hurdles. In late May, it put out a call for companies that deal with zero-knowledge proofs to join its Innovation Hours Program in September.
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.