Financial Technology Protection Act of 2025
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Topic: Finance and Financial Sector
Sponsor: Rep. Nunn, Zachary [R-IA-3] (R) - IA
Summary
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.
Legislative Subjects
Advanced technology and technological innovations; Advisory bodies; Banking and financial institutions regulation; Computers and information technology; Congressional oversight; Currency; Department of the Treasury; Digital media; Finance and Financial Sector; Fraud offenses and financial crimes; Government information and archives; Government studies and investigations; Presidents and presidential powers, Vice Presidents; Sanctions; Terrorism
Latest Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-07-22
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