Financial Technology Protection Act

Bill: 116-hr-56
Sponsor: Rep. Budd, Ted [R-NC-13]
Introduced: 2019-01-03 in the House
Policy area: Finance and Financial Sector
Subjects: Advanced technology and technological innovations
Computer security and identity theft
Computers and information technology
Congressional oversight
Crime prevention
Criminal investigation, prosecution, interrogation
Currency
Fraud offenses and financial crimes
Government trust funds
Research administration and funding
Research and development
Terrorism

Summary:
action_date: 2019-01-03
text: 

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. 
 
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 bill directs the Department of the Treasury to provide a reward for a person who provides information leading to the conviction of an individual involved with terrorist use of digital currencies. 
 
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. 

action_date: 2019-01-28
text: 

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. 
 
 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 bill directs the Department of the Treasury to provide a reward for a person who provides information leading to the conviction of an individual involved with terrorist use of digital currencies. 
 
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. 
 


Legislative actions:
action_date: 2019-01-29
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2019-01-28
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2019-01-28
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H1227-1228)
action_date: 2019-01-28
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H1227-1228)
action_date: 2019-01-28
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 56.
action_date: 2019-01-28
text: Considered under suspension of the rules. (consideration: CR H1227-1231)
action_date: 2019-01-28
text: Ms. Waters moved to suspend the rules and pass the bill, as amended.
action_date: 2019-01-03
text: Referred to the House Committee on Financial Services.
action_date: 2019-01-03
text: Introduced in House
action_date: 2019-01-03
text: Introduced in House