ChainCatcher reported that according to Cointelegraph, members of the U.S. House of Representatives voted in favor of legislation to establish a working group to study the illegal use of digital assets.
A majority of the House of Representatives approved the Fintech Protection Act by voice vote. The bill, introduced in April 2023 by Reps. Zach Nunn and Jim Himes, seeks to address how “rogue nations and foreign countries” use cryptocurrencies to evade sanctions by having members of multiple federal agencies coordinate efforts.
“This bipartisan bill will help ensure the United States is prepared to address security risks and prevent illicit money laundering while protecting consumer choice for all Americans, both of which we must do to ensure the long-term integrity of digital assets,” said Rep. Nunn.
