Bills · HR 2384
PASSED HOUSE· 119TH CONGRESS
House BillHR 2384Fraud offenses and financial crimesDepartment of the Treasury
Financial Technology Protection Act of 2025
INTRO MAR 26· LAST ACTION JUL 22
READING
6MIN
COSPONSORS
4BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- One chamber only
LEGISLATIVE PROGRESS
STEP 4 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it aims to address a growing national security concern: how new financial technologies, particularly digital assets like cryptocurrency, are being exploited by criminals and terrorists. If this bill becomes law, it means the U.S. government would formally bring together a wide range of experts to research these threats and develop concrete proposals to counter them. This could lead to a stronger defense against money laundering and terrorist financing, potentially making the financial system safer and undermining the ability of hostile actors to operate.
Without this bill, the U.S. might continue to tackle these complex issues in a less coordinated way, potentially falling behind as technology evolves rapidly. This bill creates a structured, collaborative effort to proactively identify vulnerabilities and create solutions. It highlights a critical intersection of technology, finance, and national security, aiming to protect the country from threats that leverage the anonymity or speed of digital transactions.
KEY PROVISIONS
5AI-extractedPROVISION 01
Establishes an Independent Financial Technology Working Group composed of government officials and private sector experts.
Creates a dedicated, multidisciplinary body to focus on a complex and evolving threat.
PROVISION 02
The Working Group is tasked with conducting research on illicit use of digital assets and developing legislative and regulatory proposals.
Directs the group to produce actionable recommendations to combat terrorism and financial crime.
PROVISION 03
Requires the Working Group to submit annual reports to Congress and the Treasury Secretary for three years, including a final report.
Ensures transparency, accountability, and regular updates on findings and proposed solutions.
PROVISION 04
Directs the President, via the Treasury Secretary, to submit a report within 180 days on how digital assets are used to evade sanctions and finance terrorism, and a strategy to prevent this.
Compels a high-level strategic assessment and response to a significant national security threat.
PROVISION 05
The Working Group is temporary, set to terminate approximately four years after the bill's enactment.
Provides a defined timeframe for the group's operations, avoiding permanent bureaucracy.
SPONSORSHIP
1 + 4
R· Iowa
YRS IN OFFICE
3
BILLS LED
61
COSPONSOR BREAKDOWNBIPARTISAN · 100%
DEM 2 REP 2 IND 0
ACTION TIMELINE
13 EVENTSJUL 22
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
JUL 21
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
JUL 21
Considered under suspension of the rules. (consideration: CR H3509-3511)
JUL 21
DEBATE - The House proceeded with forty minutes of debate on H.R. 2384.
BILL INFO
TypeHouse Bill
NumberHR 2384
Congress119th
StatusPassed House
IntroducedMar 26, 2025
Last actionJul 22, 2025
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PASSED HOUSE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED MAR 26, 2025
House BillHR 2384Fraud offenses and financial crimesDepartment of the Treasury
Financial Technology Protection Act of 2025
INTRODUCED MAR 26, 2025· LAST ACTION JUL 22, 2025
PASSAGE CHANCES
—%
READING
6 min
COSPONSORS
4
COMPLEXITY
Moderate
