,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #effd  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,april #bg1 #bjah,miss
 ,rice ( ,new ,york 7= h]self & ,mr4 ,k+
 ( ,new ,york7 introduc$ ! foll[+ bill2 
:i* 0 ref]r$ to ! ,committee on         
,f9ancial ,s]vices1 & 9 addition to !   
,p]man5t ,select ,committee on          
,intellig5ce 7,p]man5t ,select71 = a    
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to      
require a report on ! possible          
exploitation ( virtual curr5cies by     
t]rori/ actors1 to au?orize a           
competition program to id5tify          
regulatory solutions & develop te*nology
 ) respect to c\nt] t]ror ?reat f9anc+1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,/op ,t]rori/ ,use 
( ,virtual ,curr5cies ,act4  #b4 ,f9d+s 
,! ,congress f9ds ! foll[+3  7#a7       
,virtual curr5cies 7,,vc7 provide       
l[-co/1 high-spe$ means = v]ifi$        

transactions4  7#b7 ,:5 us$ positively1 
,v,cs unite disp>ate f9ancial m>kets &  
provide a conv5i5t means = a numb] (    
con/itu5cies1 includ+ ! economically    
m>g9aliz$1 to conduct transactions      
*eaply across l>ge geographic expanses4 
7#c7 ,simultane\sly1 to ! ext5t         
regulatory frameworks are premis$ on    
in/itution-bas$ transactions1 ,v,cs c\ld
 be exploit$ by t]rori/s & cyb]crim9als 
to fund untraceable op]ations4  7#d7    
,accord+ to ! ,c5t] = ,new ,am]ican     
,security 7,,cnas71 if ,v,cs become     
suffici5tly liquid & easily conv]tible1 
& t]rori/ gr\ps acquire te*nical        
infra/ructure ne$$ to support ,,vc      
activity at a significant scale1 ,v,cs  
c\ld pose a highly dang]\s ?reat to !   
,unit$ ,/ates & its p>tn]s4  7#e7 ,!    
,committee on ,f9ancial ,s]vices issu$ a
 report entitl$1 ,/opp+ ,t]ror ,f9ance3 
,secur+ ! ,u4,s4 ,f9ancial ,sector 9    
,decemb]1 #bjaf1 :i* includes num]\s    
recomm5dations to enhance a             
:ole-(-gov]nm5t approa* t[>ds c\nt]     

t]rori/ f9anc+4  #c4 ,s5se ( ,congress  
,x is ! ,s5se ( ,congress t-- 7#a7 to ! 
ext5t curr5t /atutes require f9ancial   
in/itutions to s]ve z ! fir/ l9e (      
def5se aga9/ illicit activity 9 ! global
 f9ancial sy/em1 & t ,v,cs specifically 
bypass su* in/itutions1 ! ,unit$ ,/ates 
ne$s to adapt its f9ancial regulatory   
framework to ensure adequate sup]vision 
( f9ancial activity2  7#b7 ! ,presid5t  
%\ld develop pr9ciples to prioritize    
c\nt] t]rori/ f9anc+ among o!r =ms (    
illicit f9ancial activity & provide     
recomm5dations to ,congress to address  
?is ?reat2  7#c7 su* pr9ciples %\ld     
include a focus on innovation &         
public-private p>tn]%ip2 &  7#d7 !      
,f9ancial ,crimes ,en=cem5t ,network    
7,fin,c,e,n7 %\ld consid] issu+ m       
guidance & facilitat+ ! e/abli%m5t (    
in/itutions pursuant to sections        
#cad7;a7 & #cad7;b7 ( ! ,,usa ,,patriot 
,act to facilitate great] in=mation fl[ 
)9 & among global banks4  #d4 ,report ,!
 ,presid5t1 act+ ?r\gh ! ,secret>y ( !  

,treasury & ! ,director ( ,national     
,intellig5ce1 %all report on ! possible 
exploitation ( virtual curr5cies by     
t]rori/ actors4 ,su* report %all include
 ! foll[+ elem5ts3  7#a7 ,recomm5dations
 to update ! regulatory ov]sight        
/ructure reg>d+ virtual curr5cies to    
address transactions t bypass f9ancial  
in/itutions1 includ+ banks1 ,money      
,s]vices ,bus9esses 7,,msb71 & o!r      
f9ancial in/itutions subject to         
regulation4  7#b7 ,assessm5t ( curr5t   
ef=ts by ,f$]al dep>tm5ts & ag5cies to  
/udy & collect intellig5ce aga9/ ! t]ror
 f9ance ?reat & money laund]+           
me?odologies4  7#c7 ,id5tification (    
gaps betwe5 ,f$]al & ,/ate regulations  
:i* c\ld be exploit$ = illicit fund+4   
#e4 ,innovation competition  7a7        
,au?orization ,9 ord] to facilitate     
public-private p>tn]%ip to develop &    
enhance illicit f9ance prev5tion sy/ems1
 ! ,secret>y ( ! ,treasury may e/abli% a
 program 7ref]r$ to 9 ?is section z !   
competition7 to be kn[n z ! ,competition

 = ,innovation 9 ,combat+ ,illicit      
,t]rori/ ,f9anc+4  7b7 ,activities      
support$ ,! ,competition may c>ry out1  
?r\gh ! provision ( grants or an annual 
rew>d1 ! foll[+ activities3  7#a7       
,collaborative rese>* ,provide grants1 =
 n m ?an two ye>s1 to engage /ud5ts1    
entrepr5eurs1 & f9ancial exp]ts to      
id5tify regulatory solutions ) respect  
to ! exploitation ( ,v,cs by t]rori/s & 
o!r crim9als4  7#b7 ,competition        
,e/abli% an annual competition = a rew>d
 ( n m ?an #ejj1jjj to any individual1  
team1 or nongov]nm5tal entity t develops
 te*nologies to facilitate c\nt] t]ror  
?reat f9anc+1 p>ticul>ly t addresses !  
use ( ,v,cs or em]g+ f9ancial te*nology4
  7c7 ,managem5t  7#a7 ,9 g5]al ,!      
,secret>y ( ,treasury1 9 consultation ) 
! ,director ( ,national ,intellig5ce1   
%all promulgate guidel9es = review (    
grant applications to ! ,competition4   
7#b7 ,requirem5ts ,! guidel9es requir$  
"u ?is subsection %all address1 at a    
m9imum1 ! foll[+3 7,a7 ,crit]ia by :i*  

grants %all be select$4  7,b7 ,policies 
to ensure t grants are 9 fur!rance (    
,unit$ ,/ates security objectives4  7d7 
,acceptance ( funds f outside s\rces ,! 
,competition may accept funds f outside 
s\rces1 includ+ =eign gov]nm5ts1        
nongov]nm5tal organizations1 & private  
bus9ess entities &1 )\t fur!r           
appropriation1 use su* funds to c>ry out
 ! purpose ( ! ,competition4  7e7 ,rule 
( con/ruction ,no?+ 9 ?is ,act may be   
con/ru$ to make any grant recipi5t an   
ag5t or e/abli%m5t ( ! ,unit$ ,/ates    
,gov]nm5t4