This part asks the Treasury to look for better ways to spot dirty money in digital assets. First it asks the public. Then it studies what it hears. Then it writes guidance and rules. It also reports to Congress.
The document says “shall”Who acts: Secretary of the TreasuryHow: statuteSec. 9 in the PDF
What the document says
“Beginning on the date that is 30 days after the date of enactment of this Act, and for a period of 60 days thereafter, the Secretary of the Treasury shall seek public comment to identify innovative or novel methods, techniques, or strategies that regulated financial institutions use, or have the potential to use, to detect illicit activity, such as money laundering, involving digital assets”
Subsection (a). The comment period opens 30 days after enactment and runs for 60 days. The Act was approved July 18, 2025. Four subjects are named for comment: application program interfaces, artificial intelligence, digital identify verification as printed, and use of blockchain technology and monitoring.
What the document actually says
“Beginning on the date that is 30 days after the date of enactment of this Act, and for a period of 60 days thereafter, the Secretary of the Treasury shall seek public comment to identify innovative or novel methods, techniques, or strategies that regulated financial institutions use, or have the potential to use, to detect illicit activity, such as money laundering, involving digital assets”
That sentence, in plain words
The Treasury must ask the public for ideas. It starts 30 days after the law passed. It runs for 60 days. The ideas are about spotting crime in digital assets.
What this is about
The law names four subjects to ask about. One is software that lets systems talk. One is artificial intelligence. One is proving who a person is. One is watching a shared ledger.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “shall”Who acts: Secretary of the Treasury, Financial Crimes Enforcement NetworkHow: statuteSec. 9 in the PDF
What the document says
“Upon completion of the public comment period described in subsection (a), the Secretary of the Treasury shall conduct research on the innovative or novel methods, techniques, or strategies that regulated financial institutions use, or have the potential to use, to detect illicit activity, such as money laundering, involving digital assets that were identified in such public comment period.”
Subsection (b). The Financial Crimes Enforcement Network is to evaluate each method against existing ones on seven factors: improvements in the ability to detect illicit activity involving digital assets, costs to regulated financial institutions, the amount and sensitivity of information collected or reviewed, privacy risks associated with that information, operational challenges and efficiency considerations, cybersecurity risks, and effectiveness at mitigating illicit finance.
What the document actually says
“Upon completion of the public comment period described in subsection (a), the Secretary of the Treasury shall conduct research on the innovative or novel methods, techniques, or strategies that regulated financial institutions use, or have the potential to use, to detect illicit activity, such as money laundering, involving digital assets that were identified in such public comment period.”
That sentence, in plain words
Once the comment period ends, the Treasury must study what came in. The study covers ways to spot crime in digital assets.
What this is about
A Treasury unit weighs each idea against what is used now. It counts seven things. They include the cost, the risk to privacy, and how well the idea works.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “shall”Who acts: Secretary of the TreasuryHow: statuteSec. 9 in the PDF
What the document says
“the Secretary of the Treasury shall consider-- (1) the source of illicit activity, such as money laundering and sanctions evasion involving digital assets; (2) the effectiveness of and gaps in existing methods, techniques, and strategies used by regulated financial institutions in detecting illicit activity, such as money laundering, involving digital assets”
Subsection (c). The four questions go into the national strategy for combating terrorist and other illicit financing required under sections 261 and 262 of the Countering America's Adversaries Through Sanctions Act (Public Law 115-44; 131 Stat. 934). The other two are the impact of existing regulatory frameworks on the development of innovative methods, and which foreign jurisdictions pose a high risk of facilitating illicit activity through digital assets to obtain fiat currency.
What the document actually says
“the Secretary of the Treasury shall consider-- (1) the source of illicit activity, such as money laundering and sanctions evasion involving digital assets; (2) the effectiveness of and gaps in existing methods, techniques, and strategies used by regulated financial institutions in detecting illicit activity, such as money laundering, involving digital assets”
That sentence, in plain words
The Treasury must weigh where the crime comes from. It must also ask how well the current checks work. It must look for gaps in them.
What this is about
These questions go into a plan the government already writes. That plan is set by an older law. It is not part of this site.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “shall”Who acts: Financial Crimes Enforcement NetworkHow: statuteSec. 9 in the PDF
What the document says
“Not later than 3 years after the date of enactment of this Act, the Financial Crimes Enforcement Network shall issue public guidance and notice and comment rulemaking, based on the results of the research and risk assessments required under this section”
Subsection (d). Four subjects are named: implementation of innovative methods by regulated financial institutions to detect illicit activity involving digital assets, standards for payment stablecoin issuers to identify and report illicit activity including fraud, cybercrime, money laundering, terrorist financing, sanctions evasion and insider trading, standards for issuers' systems to monitor transactions on blockchains and mixing services, and tailored risk management standards for financial institutions interacting with decentralized finance protocols.
What the document actually says
“Not later than 3 years after the date of enactment of this Act, the Financial Crimes Enforcement Network shall issue public guidance and notice and comment rulemaking, based on the results of the research and risk assessments required under this section”
That sentence, in plain words
A Treasury unit must put out guidance within three years. It must also write rules with public comment. Both rest on the research this part calls for.
What this is about
The rules cover four things. One is how firms use new tools. One is how makers report crime. One is watching services that mix coins. One is dealing with code-run finance.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “shall”Who acts: Secretary of the TreasuryHow: statuteSec. 9 in the PDF
What the document says
“Not later than 180 days after the date of enactment of this Act, the Secretary of the Treasury shall submit to the chairs and ranking members of the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report”
Subsection (e). Five subjects go in the report: legislative and regulatory proposals to let institutions develop novel detection methods, the results of the research and risk assessments, efforts to support institutions in implementing those methods, the extent to which transactions on distributed ledgers and mixing services may facilitate illicit activity, and legislative recommendations on the scope of the term digital asset service provider and its application to decentralized finance. The report may include a classified annex. Under subsection (f), nothing in the section limits the existing authority of the Secretary or the Federal regulators to use exemptive authorities, the no-action letter process or rulemaking to encourage such methods before the report is submitted.
What the document actually says
“Not later than 180 days after the date of enactment of this Act, the Secretary of the Treasury shall submit to the chairs and ranking members of the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report”
That sentence, in plain words
The Treasury has 180 days to send a report. It goes to two groups in Congress. It goes to their leaders on both sides.
What this is about
The report covers what the study found. It suggests changes to the law. One of them is about which firms the law should cover.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Each distinct thing the section requires: the public comment period and its four named subjects, the research that follows and the seven factors the Financial Crimes Enforcement Network weighs, the four things the Secretary must consider in the national risk assessment, the guidance and rulemaking due within three years and its four subjects, and the report to Congress due within 180 days.
The rule of construction in subsection (f), which preserves existing exemptive, no-action and rulemaking authority before the report is submitted, is recorded in the summary of the report proposal rather than as a separate entry.
The section builds on the national strategy required under sections 261 and 262 of the Countering America's Adversaries Through Sanctions Act (Public Law 115-44), which is not indexed on this site, so what that strategy requires is not recorded here. Subsection (a)(3) is printed as 'digital identify verification'; the site quotes it as printed.
