Legis Daily

Financial Technology Protection Act

USA117th CongressHR-296| House 
| Updated: 1/13/2021
Ted Budd

Ted Budd

Republican Representative

North Carolina

Cosponsors (5)
Abigail Davis Spanberger (Democratic)Darren Soto (Democratic)Warren Davidson (Republican)Stephen F. Lynch (Democratic)Byron Donalds (Republican)

Financial Services Committee, Budget 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. Specifically, 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 Department of the Treasury must establish a fund to provide a reward for a person who provides information leading to the conviction of an individual involved with terrorist use of digital currencies. Additionally, 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.
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Timeline

Bill from Previous Congress

HR 116-56
Financial Technology Protection Act

Bill from Previous Congress

HR 115-5036
Financial Technology Protection Act
Jan 13, 2021
Introduced in House
Jan 13, 2021
Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • Bill from Previous Congress

    HR 116-56
    Financial Technology Protection Act


  • Bill from Previous Congress

    HR 115-5036
    Financial Technology Protection Act


  • January 13, 2021
    Introduced in House


  • January 13, 2021
    Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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

USA117th CongressHR-296| House 
| Updated: 1/13/2021
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. Specifically, 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 Department of the Treasury must establish a fund to provide a reward for a person who provides information leading to the conviction of an individual involved with terrorist use of digital currencies. Additionally, 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-56
Financial Technology Protection Act

Bill from Previous Congress

HR 115-5036
Financial Technology Protection Act
Jan 13, 2021
Introduced in House
Jan 13, 2021
Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • Bill from Previous Congress

    HR 116-56
    Financial Technology Protection Act


  • Bill from Previous Congress

    HR 115-5036
    Financial Technology Protection Act


  • January 13, 2021
    Introduced in House


  • January 13, 2021
    Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Ted Budd

Ted Budd

Republican Representative

North Carolina

Cosponsors (5)
Abigail Davis Spanberger (Democratic)Darren Soto (Democratic)Warren Davidson (Republican)Stephen F. Lynch (Democratic)Byron Donalds (Republican)

Financial Services Committee, Budget Committee

Finance and Financial Sector

  • 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