According to PANews, 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 study the use of cryptocurrencies in terrorist financing and money laundering and to propose solutions.
The panel will include people from the crypto industry. In his speech to the House of Representatives, Nunn called the legislation critical to strengthening U.S. national security, protecting digital assets and ensuring that the next generation of financial and internet technologies are built in the United States.
But the bill is not expected to pass the Senate.
