US representatives Zach Nunn, Jim Himes reintroducing Crypto Illicit Finance Bill

US representatives Zach Nunn (R-IOWA) and Jim Himes (D-Conn.) Reintroduced a bill to help combat illegal funding and terrorist financing on digital active platforms after the previous version adopted the representative’s house last year, failed to make progress in the Senate before the end of the congressional meeting.

The Protection of Financial Technology (FTPA), which was introduced on Thursday, would create an Interagecy working group, including the crypto industry -insiders, to investigate the activity related to terrorism and digital assets.

An earlier version of the bill was cleared in a routine vote of parliament in July.

“Digital assets are an increasingly integral part of the global financial system, and it is important for the United States to take a thought -provoking approach to security and innovation to maintain its leadership position,” the Crypto Council Council director said in a statement that supports the bill.

The proposed working group will include representatives from the Department of Justice, Treasury’s Financial Crimes Enforcement Network, Federal Bureau of Investigation, Department of State, Internal Revenue Service and others.

This Bipartisan bill was among several cryptoinitiatives that won house support last year, and the efforts to address concerns about illegal finances have always been among the best questions that legislators-Ice Democrats have tried to adopt. The new administration of President Donald Trump has embraced and called for legislation on digital assets, but more remarkable for stableecoin regulation and a comprehensive bill to set the rules for structuring the US crypto markets.

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