To establish an Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing, and for other purposes.
Financial Technology Protection Act of 2025
This bill establishes the Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing. The working group must study and report on terrorist and illicit use of digital assets and other related emerging technologies and develop proposals to improve anti-money laundering and counterterrorist financing efforts.
The working group terminates four years after the bill's enactment or after the working group completes any ongoing activities, whichever is later.
In addition, the Department of the Treasury must (1) report on the potential use of digital assets and other emerging technologies by states, nonstate actors, and terrorist groups for the purpose of evading sanctions to threaten the national security of the United States; and (2) describe a strategy to mitigate and prevent this usage.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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: 49 - 0.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-93.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-93.
Placed on the Union Calendar, Calendar No. 67.
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H3509-3511)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2384.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3509-3510)
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On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3509-3510)
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.