The Financial Crimes Enforcement Network (FinCEN) just hired Chainalysis’ former chief technical officer as its new acting director, a hire that reflects the federal government’s increased interest in the growing cryptocurrency sector.
Michael Mosier will assume the post on April 11 following the departure of current Director Kenneth A. Blanco, who announced his resignation. In regards to crypto during his tenure, Blanco commented that the burgeoning industry is subject to existing regulations and does not require its own legal framework.
Most recently, Mosier served as the Counselor to the Deputy Secretary of the Treasury, which he took on last month after having served as FinCEN’s Deputy Director and first Digital Innovation Officer.
Joining Mosier is AnnaLou Tirol, the former associate director of FinCEN’s Strategic Operations Division, who will now serve as FinCEN’s deputy director.
Before his jaunt as a Deputy Secretary and his new job at FinCEN, Mosier was the chief technical officer at blockchain surveillance firm Chainalysis. Mosier held the position from June 2019 until February 2020 when he joined FinCEN for the first time. FinCEN, a bureau of the U.S. Treasury, serves as the U.S. financial intelligence unit.
Established in 2014, Chainalysis uses public blockchain data to trace and deanonymize cryptocurrency transactions for law enforcements, private companies and government agencies. The company’s software has been used by public and private entities to trace exchange hacks and pinpoint illicit transactions. With the new bull market in cryptocurrencies, Chainalysis and its products have found favor with U.S. federal and state agencies.