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US HR1414

FinCEN Improvement Act of 2019


summary

Introduced
02/27/2019
In Committee
02/27/2019
Crossed Over
03/12/2019
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

FinCEN Improvement Act of 2019 This bill amends the duties of the Financial Crimes Enforcement Network (FinCEN). FinCEN must work with tribal law enforcement agencies, protect against terrorism regardless of origin, and coordinate internationally on matters involving emerging technology and virtual currency.

AI Summary

This bill, the FinCEN Improvement Act of 2019, amends the duties of the Financial Crimes Enforcement Network (FinCEN) to ensure it works with tribal law enforcement agencies, protects against all forms of terrorism (including domestic terrorism), and focuses on emerging payment methods like virtual currencies that are increasingly being used for illicit activities. The bill requires FinCEN to coordinate internationally on matters involving these new technologies and financial tools. The goal is to strengthen FinCEN's ability to safeguard the financial system and combat money laundering, terrorist financing, and other financial crimes.

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (3)

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/12/2019)

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