Sec. 607. Financial Crimes Enforcement Network Innovation Laboratory
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Section 310 of title 31, United States Code, is amended by adding at the end the following: There is established within the Financial Crimes Enforcement Network an Innovation Laboratory to promote regulatory dialogue, data sharing between the Financial Crimes Enforcement Network and financial companies, and an assessment of potential changes in law, rules, or policies to facilitate the appropriate supervision of financial technology and the laws under the jurisdiction of the agency.
The innovation officer appointed under section 6208 of the Anti-Money Laundering Act of 2020 ( 31 U.S.C. 5311 note) by the Director of the Financial Crimes Enforcement Network shall manage the Innovation Laboratory. The Innovation Laboratory, as appropriate, shall study changes in financial technology and make recommendations to Congress, the Secretary, and the Director for appropriate changes in laws, rules, or policies that can more effectively facilitate the supervision of financial technology with respect to the laws under the jurisdiction of the Financial Crimes Enforcement Network, including digital assets, distributed ledger technology and decentralized finance.
The Innovation Laboratory, as appropriate, shall conduct pilot projects with financial companies to more effectively facilitate the supervision of financial technology, consistent with applicable law. .
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Sec. 607
Financial Crimes Enforcement Network Innovation Laboratory
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