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In 2014, JPMorgan Chase Bank, N.A. admitted to violating the Bank Secrecy Act. The bank had failed to report dubious transactions which were connected to fraudster Bernard Madoff's Ponzi scheme. The Financial Crimes Enforcement Network (FinCEN) fined JPMorgan $461 million. Then, in 2016, FinCEN went after Gibraltar Private...

Blockchain technology's ability to decentralize systems is both its blessing and its curse. On one hand, proponents of the technology praise decentralization as its biggest benefit. They're not wrong. Nobel Prize winner Ronald Coase once proposed that dealmaking was more productive when done collectively. Blockchain technology...

To regulate or not to regulate? For many lawmakers, that is the question surrounding cryptocurrency exchanges. Some countries have already begun to regulate cryptocurrency exchanges as they would banks. South Korea, for example, recently unveiled plans to recognize its local exchanges as regulated banks. Several proponents...

"Bitcoin is a market for criminals and millennials." This sentiment, expressed by economist Dennis Gartman, is common amongst many cryptocurrency critics today. We've encountered some of these adversaries of cryptocurrency firsthand. While attending an alumni event not too long ago, for instance, we spoke with a...

Whether bitcoin is up or down when you're reading this, the cryptocurrency industry is still growing rapidly (and fast approaching an estimated $1 trillion evaluation this year). But as startups in the cryptocurrency space continue to bloom, attention from regulators is on the rise, and...

As the cryptocurrency landscape evolves, the need to track and monitor transactions becomes increasingly important. Cryptocurrency companies are expected to flag, track, and monitor transactions for suspicious or unusual activity. The Financial Crimes Enforcement Network (FinCEN) requires companies involved with cryptocurrencies to register as a...

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