Bill · H.R. 2384· House(119-HR-2384)
Financial Technology Protection Act of 2025
- Introduced
- 3/26/2025
- Last activity
- 7/22/2025 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Zachary Nunn
- Cosponsors
- - 2 - 2
- Introduced
- Passed House
- In Senate committee
What this bill would do
The Financial Technology Protection Act of 2025 establishes an Independent Financial Technology Working Group to combat terrorism and illicit financing. This Working Group is chaired by the Under Secretary for Terrorism and Financial Crimes and includes representatives from various federal agencies and appointed experts. The group is tasked with researching the use of digital assets and developing legislative or regulatory proposals to improve anti-money laundering and counter-terrorist efforts. Additionally, the President must submit a report describing how digital assets might be used to evade sanctions or fund terrorism, along with a mitigation strategy. The Working Group is set to terminate after four years, unless wind-up activities are still ongoing.
Yes· 3 of 8
Does this better protect the country from computer attacks?+7
The bill enhances security by addressing the misuse of digital assets for terrorism and sanctions evasion.
Does this make what the government does easier for the public to see?+5
The bill requires public availability of unclassified reports regarding digital asset risks.
Does this put more money into stopping terrorism?+5
The establishment of the Working Group focuses on enhancing counter-terrorist financing efforts.
The opposite
Does this give the government more power to monitor people inside the country?-2
The bill increases federal monitoring of digital asset transactions to combat illicit finance.
Who it would affect, and how
Potential Positive Impacts for People
-
Improved Security and Counter-Terrorism Efforts: The Working Group is tasked with conducting research on how digital assets and emerging technologies are used by terrorists to fund illegal activities, which aims to improve counter-terrorist and counter-illicit financing efforts (Section 2(b)).
-
Enhanced Financial Integrity: The bill directs the development of legislative and regulatory proposals to improve anti-money laundering and other efforts to prevent illicit financing (Section 2(b)).
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Public Transparency: The President is required to submit an unclassified report regarding the potential use of digital assets by various actors to evade sanctions or fund terrorism, and the unclassified portion must be made available to the public on a Department of the Treasury website (Section 3(a)(1) and 3(a)(2)).
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Diverse Expert Input: The Working Group includes appointed individuals representing financial technology companies, blockchain intelligence companies, financial institutions, research organizations, and groups focused on individual privacy and civil liberties (Section 2(a)(3)).
Potential Negative Impacts for People
- None explicitly stated: The provided text does not contain specific details regarding negative consequences or burdens for individuals or groups.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Improves Government Transparency+5Increases Federal Power+4Improves Privacy Rights+2
- National Security And Foreign Policy
- Improves Cybersecurity Defense+7Increases Counter Terrorism Funding+5Increases Domestic Surveillance-2
- Economy And Finance
- Improves Consumer Protection+5
- Education And Technology
- Increases Big Tech Regulation+3Improves Data Privacy+2
- 7/22/2025
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 7/21/2025
- Motion to reconsider laid on the table Agreed to without objection.
- Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3509-3510)
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3509-3510)
- DEBATE - The House proceeded with forty minutes of debate on H.R. 2384.
- Considered under suspension of the rules. (consideration: CR H3509-3511)
- Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
- 5/6/2025
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-93.
- Placed on the Union Calendar, Calendar No. 67.
- 4/2/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 0.
- 4/1/2025
- 1 Cosponsor added.
- 3/31/2025
- 2 Cosponsors added.
- 3/26/2025
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Warren DavidsonRepublican · Ohio
Josh GottheimerDemocrat · New Jersey
James HimesDemocrat · Connecticut
Michael LawlerRepublican · New York