Major traditional firms like banks, insurance companies, and technology companies have continued to flirt around the Blockchain space as the market’s boom has continued attracting these prominent industry players. However, a new trend has seen many of the top expatriates and talents in these significant companies switch careers into the Blockchain sector, as the need to get exposure continues to be high. However, Micheal Mosier, former Chief Technical Officer (CTO) of crypto data governance firm- Chainalysis, has moved in the reverse trend. The former Associate Director at OFAC has now joined the Financial Crimes Enforcement Network (FinCEN) as its new acting director.
FinCEN also appoints a new deputy director to work with Mosier
In a new announcement by the federal government financial regulatory body, they have now announced that Mosier will now act in the position of their departed director- Keneth Blanco. However, many analysts believe this appointment shows that the government is very much interested in the cryptocurrency space and why it now requires the services of well-experienced Blockchain technical specialists to oversee the financial regulatory body. Before his resignation, Blanco was a staunch admirer of the Blockchain space in the country.
The well-experienced Blanco, at the time, believed that the Blockchain space does not require any new regulatory framework to operate in the country and now allowed the space to thrive under the native regulations of other existing markets. However, with Mosier’s appointment, the crypto community in the country will be expectant that the tenure of the former Chainalysis man will be good for the Blockchain community. FinCEN has also appointed AnnaLou Tirol as its new deputy director, as the financial watchdog has started to revamp its organizational structure. Both appointees will now be expected to work hand-in-hand to deliver the immense result in the nation.
What to expect from Mosier’s appointment?
Mosier is a well-experienced technocrat and financial analyst who have served many firms in various capacities before his new appointment. Before joining FinCEN, Mosier has served Chainalysis for two years. Chainalysis is one of the biggest beneficiaries of the boom of the Blockchain market. The Blockchain firm has been able to change the Blockchain market’s outlook, providing government, state agencies, and financial regulatory bodies with adequate data sufficient to make decisions.
However, as Mosier, who will now resume work on the 9th of April, there is still a lot to be done, is expected to bring more innovations on boards. Unlike Blanco, who felt the need not to enforce any new regulations on the cryptocurrency space in the country, Mosier will be expected to develop more favorable policies that will guide Blockchain investors’ activities and firms in the country. On the other hand, Tirol will be tasked with assisting Mosier in developing strategic initiatives to ensuring that the financial watchdog keeps up with their good works.