Creates a four-year Treasury-led working group that studies how terrorists, drug cartels, and sanctioned regimes use cryptocurrency and other digital assets to move money — and recommends new laws to stop it. The group would include officials from Treasury, Justice, the FBI, DEA, Homeland Security, and the IRS, plus representatives from crypto companies, privacy advocates, and researchers. Within 180 days, Treasury would have to report to Congress on how states like North Korea and Iran use digital assets to evade sanctions, along with a strategy to counter it. No new regulations are imposed — the group only produces reports and recommendations for Congress to act on later.
Congressional Summary
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.
Details
- Congress
- 119th
- Chamber
- Senate
- Status
- summarized
- Action
- Introduced in Senate
- Action Date
- 2025-07-31
- Date Added
- 2026-04-21
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