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H.R. 56 116th Congress House

Financial Technology Protection Act

Official title: To establish an Independent Financial Technology Task Force to Combat Terrorism and Illicit Financing, to provide rewards for information leading to conviction… Show full official titleShow less

Official title: To establish an Independent Financial Technology Task Force to Combat Terrorism and Illicit Financing, to provide rewards for information leading to convictions related to terrorist use of digital currencies, to establish a Fintech Leadership in Innovation and Financial Intelligence Program to encourage the development of tools and programs to combat terrorist and illicit use of digital currencies, and for other purposes.

Introduced: January 3, 2019 Introduced by: Ted Budd Republican · North Carolina See on congress.gov
Finance and Financial Sector Advanced technology and technological innovationsComputer security and identity theftComputers and information technologyCongressional oversight
More subjectsShow fewer subjects
Crime preventionCriminal investigation, prosecution, interrogationCurrencyFraud offenses and financial crimesGovernment trust fundsResearch administration and fundingResearch and developmentTerrorism
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 9 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 29, 2019
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 28, 2019
Motion to reconsider laid on the table Agreed to without objection.
Jan 28, 2019
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H1227-1228)
Jan 28, 2019
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H1227-1228)
Jan 28, 2019
DEBATE - The House proceeded with forty minutes of debate on H.R. 56.
Jan 28, 2019
Considered under suspension of the rules. (consideration: CR H1227-1231)
Jan 28, 2019
Ms. Waters moved to suspend the rules and pass the bill, as amended.
Jan 3, 2019
Referred to the House Committee on Financial Services.
Jan 3, 2019
Introduced in House
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 Latest action January 29, 2019

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Financial Technology Protection Act

This bill provides for the investigation of new financial technologies (e.g., digital currencies) and their use in terrorism and other illicit activities.

The bill establishes the Independent Financial Technology Task Force to Combat Terrorism and Illicit Financing, which must research terrorist and illicit use of new financial technologies and issue an annual report.

The bill directs the Department of the Treasury to provide a reward for a person who provides information leading to the conviction of an individual involved with terrorist use of digital currencies.

The bill establishes the FinTech Leadership in Innovation and Financial Intelligence Program to support the development of tools and programs to detect terrorist and illicit use of digital currencies.

 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Democratic 2 Republican 1
R
Davidson, Warren
Ohio · Jan 22, 2019
Meadows, Mark
· Jan 22, 2019
 D
Soto, Darren
Florida · Jan 22, 2019
 D
Lynch, Stephen F.
Massachusetts · Jan 3, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 56: Financial Technology Protection Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-56/
MLA
"H.R. 56: Financial Technology Protection Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-56/.
Bluebook (legal)
H.R. 56, 116th Cong. (2026), https://openamerica.io/bill/116-HR-56/.
Markdown link
[H.R. 56: Financial Technology Protection Act](https://openamerica.io/bill/116-HR-56/)
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