S. 2609 explained · 119th Congress · Pending in Congress
Financial Technology Protection Act of 2025
Cosponsors: 2 (1 D, 1 R) · per Congress.gov, 2026-10-11
Introduced: 2025-07-31
Latest action (2025-07-31): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
What S. 2609 does, in plain terms
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.
Official summary by the Congressional Research Service, via Congress.gov.
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