S2609Referred to Committee

Financial Technology Protection Act of 2025

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-07-31
Introduced
2
Cosponsors
S
ⓘ
Type

Sponsor

Ted Budd
Ted Budd
Republican · NC · Senator
Votes with party: 32.5% (317 recorded votes)

Full profile: /officials/B001305

Source: Congress.gov · FEC

Cosponsors (2)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2025-07-31

Source: Congress.gov

Committee Activity

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Plain-English Summary

Financial Technology Protection Act of 2025 This bill establishes the Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing. The working group must study and report on terrorist and illicit use of digital assets and other related emerging technologies and develop proposals to improve anti-money laundering and counterterrorist financing efforts. The working group terminates four years after the bill's enactment or after the working group completes any ongoing activities, whichever is later. In addition, the Department of the Treasury must (1) report on the potential use of digital assets and other emerging technologies by states, nonstate actors, and terrorist groups for the purpose of evading sanctions to threaten the national security of the United States; and (2) describe a strategy to mitigate and prevent this usage.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector
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