A dual piece of legislation aimed at combating illegal blockchain activities has been re -introduced to the American house of representatives.
According to a new press release, the Republican representative Zach Nunn of Iowa and Democratic representative Jim Himes of Connecticut has re -introduced the Financial Technology Protection Act together, a bill that wants to encounter, such as money laundering and the financing of terrorism.
The bill would set up a working group to set up high-ranking members of regulatory and law enforcement agencies-such as the Ministry of Justice (DOJ), Federal Bureau of Investigation (FBI) and the Internal Revenue Service (IRS)-Even if five leaders of crypto intelligence and fintech companies.
As mentioned by Nunn,
“Digital assets are quickly on the rise as an important way in which we spend money. It is a priority to ensure that every American who uses this technology is also protected.
This two -part account will help to ensure that the United States is willing to tackle security risks and prevent illegal money laundering, while innovation is also protected and protects consumers’ choice for all Americans. We must achieve these goals at the same time to guarantee the long -term integrity of digital assets. ”
In a new thread on the social media platform X, Rashan Colbert, the head of the policy of the decentralized crypto exchange Dydx, explains the importance of the bill.
“This cooperation approach ensures that policymakers have the necessary insights to combat illegal financing in the digital economy without suppressing the development of transformative financial technologies …
The House of Representatives has previously recognized the importance of this bill and unanimously transmitted in an earlier session. With its updated provisions that strengthen its effectiveness, we urge policy makers to re -support this crucial effort to protect financial integrity and at the same time retain the leadership of the United States in responsible innovation. ”
For the first time, the legislation adopted the House of Representatives in July 2024.
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Featured image: Shutterstock/Valdan22/Andy Chipus