PANews reported on July 23 that according to CoinDesk, the U.S. House of Representatives passed the Cryptocurrency Illegal Financing Act. The bill was proposed by Congressman Zach Nunn and aims to establish a federal working group to conduct an in-depth study of the use of cryptocurrencies in terrorist financing and money laundering, and to make recommendations on how to solve this problem. The group will include people from the crypto industry. In a speech in the House of Representatives, Nunn called the legislation "critical to strengthening U.S. national security, protecting our digital assets, and ensuring that the next generation of financial and Internet technologies are established in the United States." But the bill is not expected to be passed in the Senate.