Financial Technology Innovation and Defense Act
Latest action · Jan 10, 2018 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 10, 2018
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Financial Technology Innovation and Defense Act
This bill provides for the investigation of new financial technologies (e.g., digital currencies) and their use in terrorism and other illicit activities. Specifically, the bill:
- establishes the Independent Financial Technology Task Force, which must report annually on such matters;
- establishes the FinTech Leadership in Innovation Fund to support the development of tools and programs to detect such activity; and
- directs the Department of the Treasury to provide a reward for a person who provides information regarding terrorist use of digital currencies.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jan 10, 2018 |
Actions 2
Everything that happened, newest first.
- Jan 10, 2018Introduced in House
- Jan 10, 2018Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 164, no. 6, January 10, 2018, page H132.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 5036 | Financial Technology Protection Act | Related bill | Sep 27, 2018 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To establish an Independent Financial Technology Task Force, to provide rewards for information leading to convictions related to terrorist use of digital currencies, to establish a FinTech Leadership in Innovation Fund to encourage the development of tools and programs to combat terrorist and illicit use of digital currencies, and for other purposes.
- Short Titles as Introduced
- Financial Technology Innovation and Defense Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Advanced technology and technological innovations
- Computer security and identity theft
- Computers and information technology
- Congressional oversight
- Crime prevention
- Criminal investigation, prosecution, interrogation
- Currency
- Finance and Financial Sector
- Fraud offenses and financial crimes
- Government trust funds
- Research administration and funding
- Research and development
- Terrorism
Text 1
Each version as it was printed, newest first.
- Jan 10, 2018Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
