The Financial Crimes Enforcement Network (FinCEN) announced on Friday a key leadership change as director Kenneth A. Blanco is stepping down and Michael Mosier taking over as the acting director.
Blanco will step down on April 9, and Mosier, who is a former FinCEN Deputy Director, will assume the top post on April 11.
Mosier is taking over the charges of the financial crimes agency from his current role as a counselor to the Deputy Secretary of the Treasury, which he took last month. However, his most interesting tenure was at blockchain analytics firm Chainalysis, where he served as the chief technical counsel.
He joined FinCEN in February 2020 after his nine-month-long role at the New York-based blockchain company.
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Mosier spent most of his career at public offices. Previously, he was an associate director at Treasury’s Office of Foreign Assets Control and also served as a deputy chief in the Department of Justice’s money laundering and asset recovery section. He further had a stint as the director for transnational organized crime at the White House National Security Council.
Will Crypto Policy Get a Boost?
His role at FinCEN could be very crucial for the blockchain industry as the agency is trying to impose strict roles on blockchain-based transactions. FinCEN earlier proposed strict know-your-customer rules on crypto companies that will end the anonymity of crypto transactions.
With Mosier as the head of the agency, these rules on crypto might get prioritized. It is, however, to be seen if he will take a lenient approach to the industry or will impose harsh rules.
Apart from Mosier, FinCEN also appointed AnnaLou Tirol, a former associate director of FinCEN’s Strategic Operations Division, as the deputy director.