Financial Technology Protection Act
USA115th CongressHR-5036| House
| Updated: 9/27/2018
Ted Budd
Republican Representative
North Carolina
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.
Placed on the Union Calendar, Calendar No. 769.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-984.
Mr. Tipton moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H9060-9062)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5036.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H9060-9061)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H9060-9061)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Advanced technology and technological innovationsComputers and information technologyComputer security and identity theftCongressional oversightCrime preventionCriminal investigation, prosecution, interrogationCurrencyFraud offenses and financial crimesGovernment trust fundsResearch administration and fundingResearch and developmentTerrorism
Financial Technology Protection Act
USA115th CongressHR-5036| House
| Updated: 9/27/2018
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.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.
Placed on the Union Calendar, Calendar No. 769.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-984.
Mr. Tipton moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H9060-9062)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5036.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H9060-9061)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H9060-9061)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Ted Budd
Republican Representative
North Carolina
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
Related Bills
- HR 115-4752: To establish an Independent Financial Technology Task Force, to provide rewards for information leading to convictions related to terrorist use of digital currencies, to establish a FinTech Leadership in Innovation Fund to encourage the development of tools and programs to combat terrorist and illicit use of digital currencies, and for other purposes.
- HR 115-5227: To require a report and strategy with respect to virtual currencies and other related emerging technologies being used to evade sanctions, finance terrorism, and launder monetary instruments, and threaten United States national security, and for other purposes.
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Advanced technology and technological innovationsComputers and information technologyComputer security and identity theftCongressional oversightCrime preventionCriminal investigation, prosecution, interrogationCurrencyFraud offenses and financial crimesGovernment trust fundsResearch administration and fundingResearch and developmentTerrorism