summary
Introduced
02/15/2018
02/15/2018
In Committee
07/24/2018
07/24/2018
Crossed Over
09/27/2018
09/27/2018
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
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.
AI Summary
This bill establishes the Independent Financial Technology Task Force to research the terrorist and illicit use of new financial technologies, such as digital currencies. The bill directs the Department of the Treasury to provide a reward for information leading to the conviction of individuals involved in the terrorist use of digital currencies. It also establishes the FinTech Leadership in Innovation Program to support the development of tools and programs to detect the terrorist and illicit use of digital currencies. The bill defines key terms like "digital currency" and "terrorist" for the purposes of the legislation.
Committee Categories
Business and Industry, Housing and Urban Affairs
Sponsors (3)
Last Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 09/27/2018)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...