Bill > S1340

This bill establishes an Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing. The Working Group, led by the Secretary of the Treasury, will consist of senior-level representatives from various government agencies. It will conduct research on the use of new financial technologies, including digital assets, for terrorist and illicit activities, and develop legislative and regulatory proposals to improve anti-money laundering, counter-terrorist, and other counter-illicit financing efforts in the United States. The bill also requires the President to submit a report on the potential uses of digital assets and other related emerging technologies to evade sanctions, finance terrorism, or launder money, and a strategy to mitigate and prevent such illicit use.