Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 296
117th Congress(2021-2022)
Financial Technology Protection Act
Introduced
Introduced
Introduced in House on Jan 13, 2021
Overview
Text
Sponsor
Republican
Introduced
Jan 13, 2021
Latest Action
Jan 13, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
296
Congress
117
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
Ted Budd
North Carolina
Republican
Byron Donalds
Florida
Democrat
Darren Soto
Florida
Democrat
Stephen Lynch
Massachusetts
Republican
Warren Davidson
Ohio
Democrat
Abigail Spanberger
Virginia
House Votes (0)
Senate Votes (0)
No House votes have been held for this 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.

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.

Text (1)
Introduced in House
January 13, 2021
Actions (2)
01/13/2021
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.
01/13/2021
Introduced in House
Public Record
Record Updated
Mar 8, 2023 7:58:10 PM
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