The US House of Representatives has passed a bill which could pave the way for the creation of a task force tackling terrorists ' use of cryptocurrencies . The bill was originally introduced to the House in January . The legislation proposes the creation of the electronic Financial Technology Task Force , which would monitor the use of digital currencies for illicit transactions . Should the bill becomes law , terrorists will be given 30 days to report potential uses of cryptocurrencies for evading sanctions , government funding or money laundering .
The US House of Representatives has passed a bill which could pave the way for the creation of a task force tackling terrorists' use of cryptocurrencies. The bill was originally introduced to the House in January. The legislation proposes the establishment of the Independent Financial Technology Task Force, which would monitor the use of digital currencies for illicit activities. Should the bill become law, regulators will be given 180 days to report potential uses of cryptocurrencies for evading sanctions, terrorism funding or money laundering.