Nunn Bill to Combat Illicit Terrorist Financing Passes Committee

(Washington DC) Recently, the House Financial Services Committee unanimously passed Representative Zach Nunn’s (IA-03) bipartisan legislation to bolster America’s national security and strengthen the digital asset ecosystem.

Zach Nunn said the Financial Technology Protection Act would establish a working group among key federal government departments, intelligence agencies, and key private sector experts to help combat terrorism and illicit financing on digital platforms.

Rep. Nunn cosponsored three bills that also passed through the House Financial Services Committee and await consideration by the full House of Representatives:

*The STABLE Act would establish a comprehensive framework for issuing and operating dollar-denominated payment stablecoins in the United States.

*The Anti-CBDC Surveillance State Act would block the Federal Reserve from issuing a Central Bank Digital Currency directly to individuals, protecting financial privacy.

*The 1071 Repeal to Protect Small Business Lending Act would repeal burdensome data collection rules on small business loans, reducing compliance costs and protecting community lenders.