US lawmakers in the House of Representatives have voted to pass a bill that would create a task force to investigate the illegal use of digital assets.
The Financial Technology Protection Act was introduced in April 2023 and was approved by a majority of House members by voice vote on July 22.
The bill focuses on addressing the potential use of cryptocurrencies by "rogue and foreign nations" to evade economic sanctions. It proposes coordinating efforts among various federal agencies to combat this problem.
The task force created by the bill will consist of five leaders of private cryptocurrency companies, as well as representatives from the Department of Justice, the Internal Revenue Service and other federal agencies.