The Financial Technology Protection ACT (HR 2384) was one of the 12 draft financial services law adopted this week by the House of Representatives.
The 12 bills came from the Chamber’s Financial Services Committee, the Committee said in a press release Wednesday, July 23.
The law on the protection of financial technologies establishes a working group independent of financial technology which will focus on the fight against terrorism, money laundering and other illicit finances thanks to the use of digital assets and other financial technologies, according to the press release.
The sponsor of the bill, the representative Zach Nunn, R-Iowa, said in a blog post on Monday July 21 according to which there are currently more than 15 federal agencies which oversee the security of digital assets “and they have overlapping rules, no shared plan and zero direct coordination with the technological industry”.
The bill would bring together technological leaders and government regulators to “create a coordinated strategy that would prevent foreign governments and bad players from using digital assets such as crypto to whiten money or finance terrorism,” Nunn said in the position.
The law on the protection of financial technologies unanimously adopted the Chamber by a vocal vote, according to the press release from the Chamber’s Financial Services Committee.
The other 11 bills on financial services were adopted this week by the Chamber covering several numbers, according to the press release.
The Act on Introductory Subscription Subscription costs of the intermediate market (HR 3395) provides for a study of costs associated with small and medium -sized enterprises that make public through the initial public offer (IPO).
The Taiwan Conflict Deterrence Act of 2025 (HR 1716) obliges the secretary of the Treasury to disclose the estimated illicit funds of senior Chinese officials if China threatens the national security of Taiwan.
The Senior Security Act (HR 1469) establishes a main investor working group within the Securities and Exchange Commission (SEC) to seek means to protect the elderly against financial operations.
The Small Entity Update ACT (HR 3382) orders the dry to modernize the definition of a small entity and to ensure that small businesses receive “tailor -made proportional surveillance,” the press release said.
The equal opportunities law for all investors (HR 3339) creates an examination which allows individuals to qualify as accredited investors.
The Greenlighting Growth Act (HR 3343) updates title I of the Jobs Act by specifying that emerging growth companies do not need to provide financial statements for a period earlier than the two years required during their IPO.
Improving access to the law on information on small businesses (HR 3351) specifies that the Bureau of the Fond Advocate for Small Business Capital is not subject to the requirements of the Act on the Reduction of Paper.
The OFAC license law for investigators (HR 1450) authorizes companies in the private sector with an Office of Foreign Assets Control (OFAC) license to carry out nominal transactions with sanctioned entities.
China Financial Kened Mitigation Act of 2025 (HR 1549) forces the Ministry of the Treasury to examine the risks of the Chinese financial sector and the reliability of its economic data.
The SEC alignment regulations for the law of the International Association for the Development of the World Bank (IDA) (HR 1764) classifies the titles issued by IDA as exempt titles, subject to the appropriate declaration requirements such as determined by the SEC.
The Act on Multi-Class Disclining Disclosure in improvement (HR 3357) requires that transmitters with a multi-class stock structure makes certain disclosure in any proxy or consent requirement.
Among these 11 bills, HR 3351 adopted a vote of 387-12, HR 1549 adopted by a vocal vote, HR 3357 adopted by a vote of 381-31, and the other eight unanimously adopted the Chamber by a vocal vote, according to the press release.
