S. 2609 · Where this bill is now
In committee
Introduced in the Senate, Jul 31, 2025
What this bill does
In plain words · AI-written from the official summaryTask force studies digital money security threats
This bill creates a new working group to study how terrorists and criminals use digital assets and other emerging technologies to move money illegally. The group will develop proposals to strengthen anti-money laundering and counterterrorist financing efforts. It also directs the Treasury Department to report on how hostile countries and terrorist groups might use digital assets to get around sanctions and threaten national security, and to develop a strategy to prevent that.
How it affects you
This bill doesn't directly change anything for most people right now. It's mainly about studying and planning how to address security threats related to digital money and emerging technologies, which could potentially affect financial regulations and national security efforts down the road.
Read the official summary (Introduced in Senate, Jul 31, 2025)
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.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionS. 2609
A BILL
Financial Technology Protection Act of 2025
Sponsor: Sen. Ted Budd (R-NC) · Introduced Jul 31, 2025 · Finance and Financial Sector · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Jul 31, 2025: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”