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S. 2609 119th Congress Senate

Financial Technology Protection Act of 2025

Official title: A bill to establish an Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing, and for other purposes.

Introduced: July 31, 2025 Introduced by: Ted Budd Republican · North Carolina See on congress.gov
Finance and Financial Sector Advanced technology and technological innovationsAdvisory bodiesBanking and financial institutions regulationComputers and information technology
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Congressional oversightCurrencyDepartment of the TreasuryDigital mediaFraud offenses and financial crimesGovernment information and archivesGovernment studies and investigationsPresidents and presidential powers, Vice PresidentsSanctionsTerrorism
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 31, 2025
Introduced in Senate
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What's happening now July 31, 2025

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

 Plain-English summary Congressional Research Service

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. 

 Related & companion bills 1
  • HR 2384 Identical bill Financial Technology Protection Act of 2025
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 1

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

  • FDD ACTION
    for FDD ACTION · District of Columbia · 1st Quarter 2026 (Jan 1 - Mar 31)

Bodies those filers lobbied

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 Cosponsors 2
All 2 Democratic 1 Republican 1
D
Gillibrand, Kirsten E.
New York · Jul 31, 2025
 R
Lummis, Cynthia M.
Wyoming · Jul 31, 2025
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2609: Financial Technology Protection Act of 2025. 119th Congress. Open America. https://openamerica.io/bill/119-S-2609/
MLA
"S. 2609: Financial Technology Protection Act of 2025." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-S-2609/.
Bluebook (legal)
S. 2609, 119th Cong. (2026), https://openamerica.io/bill/119-S-2609/.
Markdown link
[S. 2609: Financial Technology Protection Act of 2025](https://openamerica.io/bill/119-S-2609/)
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