H.R. 2969 would establish a working group within the Department of the Treasury to research terrorists’ use of new financial technologies, including digital assets, and report on its findings. The working group would comprise 16 senior-level representatives from specified agencies in the federal government. The bill would require the working group to report within 180 days of enactment on the evasion of sanctions using digital assets to the Congress and to report annually to the Congress and other executive branch agencies about its findings. The working group’s members would serve without pay but would be compensated for travel expenses. Under the bill, the working group would sunset four years after enactment.
Using information about the costs of similar working groups, CBO estimates that implementing H.R. 2969 would cost less than $500,000 annually and $1 million over the 2024-2028 period; any spending would be subject to the availability of appropriated funds.
