S. 2609

119th Congress

In Committee

Financial Technology Protection Act of 2025

Sponsored byRepublican:Sen. Budd, Ted [R-NC]NC· Introduced 31 July 2025
Open on Congress.gov

2

Cosponsors

2

Actions

0

Amendments

0

Committees

—

Since introduced

Introduced
Committee
Passed Chamber
Passed Both
Enacted
Step 1 of 0
Latest action

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

31 July 2025·11 months ago

Summary

Introduced in Senate · Updated 20 April 2026

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. 

Timeline

2 actions

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

    31 July 2025 · IntroReferral

  2. Introduced in Senate

    31 July 2025 · IntroReferral

Sponsorship

2 cosponsors

Sponsor

Republican:Sen. Budd, Ted [R-NC]NC

Cosponsors

  • Democrat150%
  • Republican150%

Classification

Policy area

Finance and Financial Sector

Legislative subjects

Advanced technology and technological innovationsAdvisory bodiesBanking and financial institutions regulationComputers and information technologyCongressional oversightCurrencyDepartment of the TreasuryDigital mediaFraud offenses and financial crimesGovernment information and archivesGovernment studies and investigationsPresidents and presidential powers, Vice Presidents
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