Blockchain could revolutionize the financial industry in coming years. But as with all technology, there may be unintended consequences from its implementation.
The reporting limit of an anti-money laundering provision from the 1970s should be revised to account for years of inflation and economic growth.
The data shows a 55 percent increase in the number of Suspicious Activity Reports filings after the Patriot Act was passed from the pre-2001 trend.
The history of the Bank Secrecy Act demonstrates a pattern of lawmakers expanding its scope and liability to an ever wider class of institutions and activities.