arrow_back Back to App

Pilot Program: Government and Crypto Firms Partner to Fight Digital Financial Crime.

This bill establishes a 5-year pilot program allowing key government agencies (like the FBI and FinCEN) to securely share information with selected crypto asset businesses. The goal is to quickly identify and stop illicit activities such as money laundering, fraud, and sanctions evasion using digital assets. This aims to create a safer environment for citizens engaging in digital finance.
Key points
A 5-year pilot program will facilitate information sharing between federal agencies and 20 designated private crypto firms regarding threats of illegal digital finance.
Participating private companies receive legal protection (immunity from liability) for sharing information about potential illicit activities.
The program targets various crimes, including fraud, money laundering, and transactions related to darknet marketplaces, enhancing overall financial security.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_3603
Sponsor: Sen. Hagerty, Bill [R-TN]
Process start date: 2024-01-17
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Preventing Illicit Finance Through Partnership Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3603.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-01-17.

What are the main provisions?

Key points include:

  • A 5-year pilot program will facilitate information sharing between federal agencies and 20 designated private crypto firms regarding threats of illegal digital finance.
  • Participating private companies receive legal protection (immunity from liability) for sharing information about potential illicit activities.
  • The program targets various crimes, including fraud, money laundering, and transactions related to darknet marketplaces, enhancing overall financial security.
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 Sen. Hagerty, Bill [R-TN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Security Courts and Law Economy