Bill > HR2384

This bill establishes the Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing, a multi-agency task force designed to address emerging technological risks in financial systems. The Working Group will consist of representatives from various government agencies including the Treasury, Justice Department, FBI, and Homeland Security, as well as five external experts from financial technology companies, blockchain intelligence firms, financial institutions, research organizations, and civil liberties groups. The group's primary responsibilities include conducting research on terrorist and illicit uses of digital assets and emerging technologies, and developing legislative and regulatory proposals to improve anti-money laundering and counter-terrorism financing efforts. The Working Group will be required to submit annual reports to the Treasury, agency heads, and congressional committees, with a final comprehensive report before its termination. The group will exist for four years, with the potential to wind down ongoing activities, and will focus on understanding how digital assets and emerging technologies might be used by states, terrorist organizations, and other actors to evade sanctions, finance terrorism, or launder money. The bill also mandates a presidential report within 180 days detailing potential threats and mitigation strategies, which will be made publicly available in an unclassified format.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/house-bill/2384/all-info