Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such prov
Why This Matters
This bill sets up a new committee and office to help regulate and promote innovation in financial technology. It aims to ensure that new financial tools are safe and beneficial for the public.
If you work in financial technology, this bill could help you navigate regulations and promote your innovations.
Who this affects
Businesses in financial technology · Individuals in financial technology
What changes is this bill making?
1This bill creates a committee to support new technologies in finance.
2The committee will help businesses understand financial regulations.
3It establishes LabCFTC to promote fair competition in financial technology.
4LabCFTC will provide information and outreach to technology innovators.
5The bill requires annual reports on the committee's activities.
