Abstract
This article evaluates Bitcoin under the American law and argues that Bitcoin is predominantly used for criminal purposes. Further, it evaluates whether the market participants such as cryptocurrency exchanges knowingly participate in the criminal actions.
As described, it is more than likely that the market participants are abusing the means of bitcoin similar to the end users, however on much greater scale. Moreover, we point out that some services, such as bitcoin tumblers are used for the sole purpose of anonymizing funds without whatsoever check whether the money was obtained in criminal activity.
We are pointing out that a general cross-boarder body of control would be needed to stop those activities.