In the News

Last Thursday the "Advancing Innovation To Assist Law Enforcement Act" passed in the House of Representatives. The bill requires the Financial Crimes Enforcement Network (FinCEN) to conduct a study on the use of blockchain, AI, and other technologies by the agency and provide a report to the House Financial Services Committee and the Senate Banking Committee. The Senate received the bill from the House on Monday where it was referred to the Senate Banking Committee. Representative Anthony Gonzalez (R-OH) sponsored the bill, with co-sponsors Representative Tom Emmer (R-MN) and Representative Ben McAdams (D-UT).

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The bill’s sponsor, Representative Anthony Gonzalez (R-OH) noted, “This bill takes a stand to block a major tool used by cartels, terrorist organizations, traffickers and the like to finance their illegal activities and put our nation and the people living in it at risk.  Money laundering enables the shipment of deadly drugs like opioids and fentanyl into communities like mine in Ohio that have been decimated by the opioid crisis. Money laundering finances cartels who wreak havoc on our southern border and the communities that surround it … proliferates the horrors of human trafficking which continues to exist across our country despite government and private industry attempts to better identify victims and cut off trafficking routes.” 

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