More Iowans than ever are using digital payments and cryptocurrency to invest, send money, or run a small business. These tools create opportunity — but they’re also being exploited by terrorists and human traffickers to move money in the shadows.
The problem: Right now, there are 15+ federal agencies that oversee digital asset security, and they have overlapping rules, no shared plan, and zero direct coordination with the tech industry.Â
The solution: The House just passed my bipartisan bill — the Financial Technology Protection Act — to bring tech leaders and government regulators together to create a coordinated strategy that would prevent foreign governments and bad actors from using digital assets like crypto to launder money or fund terrorism.
Our bill keeps your digital assets secure while going after bad actors by:Â Â
✅ Tracking how terrorists use digital assetsÂ
✅ Recommending real-time solutions to protect the U.S. and our alliesÂ
✅ Partnering with industry leaders to stop abuse and support innovationÂ
Bottom Line: Iowa families, farmers, and small businesses are using digital tools to take them into the future. I’ll continue leading to close security loopholes and ensure digital assets are safe and secure.