Cryptocurrency-related suspicious activity report submitted to U.S. financial crime enforcement network surges

Kenneth Blanco, director of the US Financial Crimes Enforcement Network (FinCEN), said that since May, cryptocurrency companies have submitted 7,100 suspicious activity reports (SAR). In addition, a total of 11,000 encryption-related SARs have been submitted to FinCEN. These surging numbers indicate that virtual asset service providers (VASPs) such as crypto ATMs and exchanges are paying close attention to potential illegal activities.