1. Short title This Act may be cited as the FinCEN Modernization Act of 2018 . 2. Modernizing the research, development, information sharing, and acquisition process authorities of the Financial Crimes Enforcement Network (FinCEN) Section 310 of title 31, United States Code, is amended by adding at the end the following: (e) Modernizing the research, development, information sharing, and acquisition process (1) In general FinCEN shall establish and maintain research, development, and information sharing programs that further the purposes and objectives of the laws administered by FinCEN, including programs that— (A) inform FinCEN of important technological advances and innovations like machine learning and data analytics that help safeguard financial systems and detect illicit activity; (B) facilitate an environment where these technological advances and innovations may be explored by developers and FinCEN to evaluate potential benefits for the financial industry; (C) identify areas where FinCEN should adapt to facilitate these technological advances and innovations, and encourage the development of novel tools that are currently not available for use by FinCEN that would benefit financial systems monitored by FinCEN; (D) ensure that FinCEN has the necessary technology to monitor cryptocurrencies and other emerging financial technologies for their potential use in money laundering and cyber and data security breaches