To establish an Independent Financial Technology Task Force, to provide rewards for information leading to convictions related to terrorist use of digital currencies, to establish a FinTech Leadership in Innovation Program to encourage the development of tools and programs to combat terrorist and illicit use of digital currencies, and for other purposes.
Financial Technology Protection Act
This bill provides for the investigation of new financial technologies (e.g., digital currencies) and their use in terrorism and other illicit activities.
(Sec. 3) The bill establishes the Independent Financial Technology Task Force, which must research terrorist and illicit use of new financial technologies and issue an annual report.
(Sec. 4) The bill directs the Department of the Treasury to provide a reward for a person who provides information leading to the conviction of an individual involved with terrorist use of digital currencies.
(Sec. 5) The bill establishes the FinTech Leadership in Innovation Program to support the development of tools and programs to detect terrorist and illicit use of digital currencies.
Referred to the House Committee on Financial Services.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-984.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-984.
Placed on the Union Calendar, Calendar No. 769.
Mr. Tipton moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H9060-9062)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5036.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H9060-9061)
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On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H9060-9061)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.