Ted Budd: “I want to thank my friend, the ranking member, for yielding, and I want to start by congratulating him on his new role…”

“I want to thank my friend, the ranking member, for yielding, and I want to start by congratulating him on his new role on the Financial Services Committee. Certainly, he makes our home State, the Old North State, proud. I also want to congratulate the new chair on her position as chair of our committee, and I look forward to working with her in a bipartisan fashion whenever I can. I also have to thank my colead on H.R. 56, the gentleman from Massachusetts (Mr. Lynch), for his leadership on illicit financing issues, and this bill in particular. I always enjoy teaming up with him, and I value his input and expertise on these issues. I am hopeful we will see some movement on his kleptocracy legislation soon, and I am proud to be coleading that bill with the gentleman. Today, Mr. Speaker, I rise in strong support of my bipartisan legislation, the Financial Technology Protection Act. I have said this many times before, but I will say it again because it bears repeating: Illicit financing networks are the linchpin of any terrorist group, criminal organization, or rogue state's operations. As we move into an increasingly digital and virtual world, criminals and terrorists will start to use new technologies that are available to them. This shouldn't shock anyone. Of course, we all recognize the good that comes with innovation and new technology, but there will always be bad actors as well.…”