The Senate Committee on Banking, Housing, and Urban Affairs considered the implications of digital assets for illicit finance, terrorism, and other forms of criminal activity.
The America COMPETES Act of 2022 was introduced in the U.S. House of Representatives. The bill would, among other things, modernize FinCEN's special-measures authority to "empower FinCEN to adapt its existing tools, monitor and obstruct global financial threats, and meet the challenges of combating 21st century crime."
The U.S. House Financial Services Subcommittee on National Security, International Development and Monetary Policy considered testimony on the creation of a U.S. central bank digital currency.
The House Financial Services Committee Taskforce on Financial Technology considered the implications of central bank digital currencies as they pertain to (i) trade-offs in the design of different technological infrastructures, (ii) consumer privacy and (iii) increased access to financial services.
The U.S. House of Representatives passed a bill that would direct the CFTC and SEC to jointly create a digital assets working group.