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Combating Terrorism and Illicit Financing in Digital Technologies

This act establishes a new working group to research how new financial technologies, including digital assets, are used for terrorism and illegal activities. The goal is to develop better ways to combat money laundering and terrorist financing, enhancing national financial security and protecting citizens from threats.
Key points
Establishment of an independent expert group to combat terrorism and illicit financing, including through cryptocurrencies.
The group will research how new financial technologies are used for crimes and propose legal changes.
The President will present a strategy to prevent the use of digital assets for sanctions evasion and terrorist financing.
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Status:
Expired
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Additional Information
Print number: 118_HR_2969
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2023-04-27
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Financial Technology Protection Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2969.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-04-27.

What are the main provisions?

Key points include:

  • Establishment of an independent expert group to combat terrorism and illicit financing, including through cryptocurrencies.
  • The group will research how new financial technologies are used for crimes and propose legal changes.
  • The President will present a strategy to prevent the use of digital assets for sanctions evasion and terrorist financing.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Nunn, Zachary [R-IA-3].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4651-4652)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Security Economy Courts and Law