Monica De La Cruz: “I thank the gentleman for yielding. Mr. Speaker, we live in an increasingly interconnected world with new and emerging…”

“I thank the gentleman for yielding. Mr. Speaker, we live in an increasingly interconnected world with new and emerging technologies changing how we conduct business with one another and exchange currency. Blockchain technology and digital assets are a key component of this. This new technology is here to stay and needs an environment in which it can continue to grow and thrive in the United States. At the same time, Congress needs to ensure that law enforcement has the tools they need to combat new threats arising from this technology. The Financial Technology Protection Act will help accomplish that goal. H.R. 2969 establishes an independent financial technology working group that is focused on combating illicit finance using financial technologies, including digital assets. The working group established by this act will conduct research on illicit finance and will use that knowledge to develop legislative and regulatory proposals to counter money laundering, terrorist financing, and other threats to the U.S. so that our families are more secure and money is cut off from illicit enterprises. This bill is good governance. It is bipartisan. It is a cooperative effort to address real problems in our country, and I am happy to support it and vote in favor of it on the House floor. Mr. Speaker, I urge my colleagues to support H.R. 2969.”