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Rep. Ted Budd Introduces Bill to Fight Crime Using Financial Technology

Press Release

By: Ted Budd
By: Ted Budd
Date: Jan. 14, 2021
Location: Washington, DC
Issues: Finance and Banking

Rep. Ted Budd (NC-13) introduced the Financial Technology Protection Act, which helps stop the illicit use of new financial technologies. The bill has twice passed the House unanimously in 2018 and 2019.

Rep. Budd released the following statement:

"As we move into an increasingly digital and technology centered world, criminals and terrorists are using new technologies to wreak havoc on our fellow Americans. My bill will help put a stop to it.

"My legislation accomplishes a number of goals to address this increasingly common problem. The establishment of the "Fintech Leadership in Innovation and Financial Intelligence Program' is especially important. It will let academia and the private sector apply for grants to develop ideas and programs to combat terrorist use of digital currencies. In my view, experts in the private sector can do a better job tracking the illicit use of these currencies and leveraging their talent to create tools to disrupt bad actors who use financial technology."


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