According to Kenneth Blanco, the director of Financial Crimes Enforcement Network (FinCEN), his office receives more than 1,500 monthly reports of suspicious activity related to cryptocurrencies. This is reported on the website of the department.

According to Blanco, these messages come not only from various financial institutions, but also from cryptocurrency exchanges. He also noted that although virtual currencies can be beneficial in some cases, they also create an abundance of opportunities for financial criminals, terrorists, as well as for rogue states that do not recognize international law.

In addition, the head of FinCEN stressed the importance of suspicious activity reports (SAR). The latter are provided by financial institutions that managed to identify activities allegedly associated with fraud and money laundering. According to Blanco, his office receives more than 1500 SAR per month, concerning suspicious transactions with cryptocurrency.

The head of FinCEN also discussed the role of his department in the crypto-industry. In particular, he stressed that