Digital assets are quickly emerging as a major way through which Americans spend money, but they can also be a target for terrorists and illicit money laundering.
I’ve introduced the Financial Technology Protection Act to protect Americans’ digital assets. This bipartisan bill establishes a working group among key federal government departments and intelligence agencies to help combat terrorism and illicit financing on digital platforms.
Ensuring the United States is prepared to address security risks and prevent illicit money laundering while also protecting freedom for all Americans is critical. We must do both simultaneously to ensure the long-term integrity of digital assets.
The Financial Technology Protection Act aims to protect emerging digital assets with three steps:
- Establish a working group between government and crypto industry leaders.
- Research transactions related to terrorism and illicit financial technology.
- Propose legislative actions needed to prevent money laundering, improve counter-terrorist activity, and counter illicit financing in the U.S.
I want to make sure every American has access to digital assets and is protected. If we act now, we can accomplish this goal.
Read The Bill Text Here: