H.R.56 - Financial Technology Protection Act116th Congress (2019-2020) |
|Sponsor:||Rep. Budd, Ted [R-NC-13] (Introduced 01/03/2019)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 01/29/2019 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.56 — 116th Congress (2019-2020)All Information (Except Text)
Passed House (01/28/2019)
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.
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 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.
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.