Report No. 119–93: H.R. 2384

A Bill To establish an Independent Financial Technology Working Group to Combat Terrorism and IllicitFinancing, and for other purposes.

MAY 6, 2025
       Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

Introduction

To combat terrorism and illicit financing, this bill establishes an Independent Financial Technology Working Group.

Section 1. Short title; establishment of the Independent Financial Technology Working Group

(a) This Act may be cited as the "Combating Terrorism and Illicit Financing through Financial Technology Act".

(b)

• Establishes an Independent Financial Technology Working Group to combat terrorism and illicit financing.
• Comprises experts in finance, technology, law enforcement, and national security.
• Develops strategies to prevent the use of financial technology for terrorist and illicit activities.

Section 2. Purpose

(a) The purpose of this Act is to enhance the ability of the United States to prevent the use of financial technology for terrorism and illicit activities.

Section 3. Definitions

(a) In general term:

• The term "digital asset" means any digital representation of value that is recorded on a cryptographically secured digital ledger or any similar technology.
• The term "emerging technologies" means the critical and emerging technology areas listed in the Critical and Emerging Technologies List developed by the Fast Track Action Subcommittee on Critical and Emerging Technologies of the National Science and Technology Council, including any updates to such list.
• The term "foreign terrorist organization" means an organization that is designated as a foreign terrorist organization under section 219 of the Immigration and Nationality Act (8 U.S.C. 1189).

Section 4. Establishment of the Independent Financial Technology Working Group

(a) The Independent Financial Technology Working Group shall be established within the Office of the Director of National Intelligence.

(b)

• The working group shall comprise experts in finance, technology, law enforcement, and national security.
• The working group shall develop strategies to prevent the use of financial technology for terrorist and illicit activities.

Conclusion

This bill establishes an Independent Financial Technology Working Group to combat terrorism and illicit financing. The working group will comprise experts in finance, technology, law enforcement, and national security and develop strategies to prevent the use of financial technology for terrorist and illicit activities.