It has been reported that the bill “H.R. 296” is co-sponsored by Reps. Warren Davidson (R-OH), Stephen Lynch (D-MA), Byron Donalds (R-FL), and Darren Soto (D-FL) and was introduced on Wednesday.
However, apart from creating the task force, the bill also seeks to:
“Provide rewards for information leading to convictions related to terrorist use of digital currencies, to establish a Fintech Leadership in Innovation and Financial Intelligence Program to encourage the development of tools and programs to combat terrorist and illicit use of digital currencies, and for other purposes.”
The report said that after the introduction, the bill was referred to the Committee on Financial Services and the Committee on the Budget for preliminary deliberations.
Thus, he also introduced a couple of bills to the house aimed at improving the regulatory standard of the industry in the US.