Bill > HR2969

This bill establishes an Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing. The Working Group, chaired by the Secretary of the Treasury, will include representatives from various government agencies and the private sector. The group's duties include conducting research on the use of new financial technologies, like digital assets, for terrorist and illicit activities, and developing legislative and regulatory proposals to improve anti-money laundering and counter-terrorist financing efforts in the United States. The bill also requires the President to submit a report describing the potential uses of digital assets and other emerging technologies to evade sanctions, finance terrorism, or launder money, and a strategy to mitigate and prevent such illicit use.