To establish an Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing, and for other purposes.
Summary
What This Bill Does
The Financial Technology Protection Act of 2025 establishes the Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing. The Treasury Secretary, acting through the Under Secretary for Terrorism and Financial Crimes, chairs the group. Federal members include Treasury, the Office of Terrorism and Financial Intelligence, IRS, Justice Department, FBI, DEA, Homeland Security, Secret Service, State Department, and ODNI. Private and nonfederal members include representatives of financial technology companies, blockchain intelligence companies, financial institutions, research organizations, and privacy or civil-liberties organizations. The group researches terrorist and illicit use of digital assets and emerging technologies, develops legislative and regulatory proposals, reports annually for four years, submits a final report, and transfers unobligated funds to Treasury when it terminates.
Who Benefits and How
Treasury's Office of Terrorism and Financial Intelligence, IRS Criminal Investigation, FBI financial-crime teams, DEA investigators, Homeland Security investigators, Secret Service financial-crime teams, State Department sanctions staff, ODNI analysts, financial technology companies, blockchain intelligence companies, financial institutions, research organizations, privacy and civil-liberties organizations, and congressional oversight committees benefit from a formal research-and-proposal venue and public strategy reporting on digital-asset sanctions evasion, terrorist financing, and money laundering.
Who Bears the Burden and How
The Treasury Secretary, Under Secretary for Terrorism and Financial Crimes, working-group federal members, appointed private-sector representatives, digital asset firms, blockchain intelligence providers, foreign state actors using digital assets, foreign terrorist organizations, non-state illicit-finance actors, Treasury web publication staff, and agency briefing staff must participate in research, produce annual and final reports, develop proposals, publish machine-readable reports, brief Congress, and face increased scrutiny of sanctions evasion and illicit finance.
Key Provisions
- Establishes the Independent Financial Technology Working Group chaired by Treasury's Under Secretary for Terrorism and Financial Crimes.
- Adds federal members from Treasury, IRS, Justice, FBI, DEA, DHS, Secret Service, State, and ODNI.
- Adds appointed members from fintech companies, blockchain intelligence companies, financial institutions, research organizations, and privacy or civil-liberties organizations.
- Requires annual reports for four years and a final report on research, recommendations, activities, and proposals.
- Requires a presidential Treasury-led report and strategy on digital-asset sanctions evasion, terrorist financing, and money laundering.
- Defines blockchain intelligence company, digital asset, emerging technologies, foreign terrorist organization, illicit use, and terrorist.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Creates a four-year Treasury-led financial technology working group with federal and private members to research terrorist and illicit use of digital assets and emerging technologies, develop anti-money-laundering and counter-terrorist-financing proposals, and require a separate public sanctions-evasion strategy report.
Key Policy Areas
Financial Services, Digital Assets, National Security
Primary Purpose
Creates a four-year Treasury-led financial technology working group with federal and private members to research terrorist and illicit use of digital assets and emerging technologies, develop anti-money-laundering and counter-terrorist-financing proposals, and require a separate public sanctions-evasion strategy report.
Policy Domains
Substantive provisions
Identified Gains
- Office of Terrorism and Financial Intelligence
- IRS Criminal Investigation
- FBI financial-crime teams
- DEA investigators
- Homeland Security investigators
- Secret Service financial-crime teams
- State Department sanctions staff
- ODNI analysts
- Financial technology companies
- Blockchain intelligence companies
- Financial institutions
Identified Costs
- Treasury Secretary
- Under Secretary for Terrorism and Financial Crimes
- Working-group federal members
- Appointed private-sector representatives
- Digital asset firms
- Blockchain intelligence providers
- Foreign state actors using digital assets
- Foreign terrorist organizations
- Non-state illicit-finance actors
Sponsors
Legislative Progress
Passed HouseReceived; read twice and referred to the Committee on Banking, …
Passed House (inferred from eh version)
Additional sponsors: Mr. Davidson, Mr. Lawler, and Mr. Gottheimer
Reported with an amendment, committed to the Committee of the …
Mr. Nunn of Iowa (for himself and Mr. Himes) introduced …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Congressional oversight committees, Office of Terrorism and Financial Intelligence, Treasury Secretary
Positive-direction: Congressional oversight committees, Office of Terrorism and Financial Intelligence
Negative-direction: Treasury Secretary, Treasury web publication staff
Illicit finance actors, Non-state illicit-finance actors, Terrorist organizations
Blockchain intelligence companies, Financial technology companies
Foreign state actors using digital assets, Foreign terrorist organizations
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "working_group"
- → Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology