# 119-s-2609: Financial Technology Protection Act of 2025

119-s-2609, Financial Technology Protection Act of 2025, is a 119th Congress bill sponsored by Sen. Budd, Ted [R-NC] (R-NC); status introduced; PRIA reads it as touching household money (as of 2026-04-22).

- Canonical: https://policyrisk.com/legislation/119-s-2609
- As of: 2026-04-22
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-2609
- Congress: 119
- Title: Financial Technology Protection Act of 2025
- Status: introduced
- Introduced: 2025-07-31
- Sponsor: Sen. Budd, Ted [R-NC] (R-NC)
- Cosponsors: 2
- Policy area: unknown
- Touches household money: yes
- Last recorded action: 2026-04-22

## Summary

**The bill would create an independent working group to **combat terrorist financing and illicit use of digital assets** by studying risks and proposing legislative and regulatory fixes.** The group would be led by the Treasury Department and include senior representatives from key federal agencies and outside experts to develop strategies and reports on digital-asset threats and sanctions evasion. - Federal agencies and law enforcement: Coordinates across 10 federal entities to drive joint research and to develop legislative and regulatory proposals that target terrorist financing and illicit finance using digital assets. - Fintech and privacy stakeholders: Requires at least five external appointees representing fintech companies, blockchain intelligence firms, financial institutions, researchers, and civil liberties groups to inform the group's recommendations. - Congress and the public: Requires an unclassified report and mitigation strategy on sanctions evasion within 180 days, annual reports for three years, a final report before termination, and public posting of the unclassified material on the Treasury website.

## Cosponsors (2)

- Sen. Lummis, Cynthia M. [R-WY] (R-WY), 2025-07-31T00:00:00.000Z
- Sen. Gillibrand, Kirsten E. [D-NY] (D-NY), 2025-07-31T00:00:00.000Z

## Provisions PRIA read

- Treasury-led financial technology working group: benefit, low. If enacted, this bill would create a Treasury‑led Working Group on financial technology and illicit finance. The group would be chaired by the Treasury Secretary through the Under Secretary for Terrorism and Financial Crimes and include senior officials from ten federal agencies plus at least five…
- Definitions for digital assets and firms: mixed, medium. If enacted, this bill would set legal definitions for digital assets and related firms. It would define "digital asset" as value recorded on a cryptographically secured ledger. It would define "blockchain intelligence company" and list services those firms provide. It would adopt an official list f…

## Related bills

- 119-s-3923: Weather Research and Forecasting Innovation Reauthorization Act of 2026
- 119-s-5025: Lindsey O. Graham Sanctioning Russia Act of 2026
- 119-s-1241: Sanctioning Russia Act of 2025
- 119-s-545: Combating Illicit Xylazine Act
- 119-s-1816: Improving Seniors’ Timely Access to Care Act of 2025
- 119-s-1261: CONNECT for Health Act of 2025

## Sources
- [119-s-2609 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/2609)

## Related
- [119-s-3923: Weather Research and Forecasting Innovation Reauthorization Act of 2026](https://policyrisk.com/legislation/119-s-3923)
- [119-s-5025: Lindsey O. Graham Sanctioning Russia Act of 2026](https://policyrisk.com/legislation/119-s-5025)
- [119-s-1241: Sanctioning Russia Act of 2025](https://policyrisk.com/legislation/119-s-1241)
- [119-s-545: Combating Illicit Xylazine Act](https://policyrisk.com/legislation/119-s-545)
- [119-s-1816: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-s-1816)
- [119-s-1261: CONNECT for Health Act of 2025](https://policyrisk.com/legislation/119-s-1261)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-2609 (as of 2026-04-22).