H.R. 296 · 117th Congress
Financial Technology Protection Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BuddSponsor5 cosponsors · 3 D, 2 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill provides for the investigation of new financial technologies (e.g., digital currencies) and their use in terrorism and other illicit activities.
What it does: CRS summary · Introduced in House · Jan 13, 2021
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.
Specifically, the bill establishes the Independent Financial Technology Task Force to Combat Terrorism and Illicit Financing, which must research terrorist and illicit use of new financial technologies and issue an annual report.
The Department of the Treasury must establish a fund to provide a reward for a person who provides information leading to the conviction of an individual involved with terrorist use of digital currencies.
Additionally, the bill establishes the FinTech Leadership in Innovation and Financial Intelligence Program to support the development of tools and programs to detect terrorist and illicit use of digital currencies.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Financial Technology Protection Act
Latest action (Jan 13, 2021): Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jan 13, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.