The U.S. Department of the Treasury (Treasury) has delivered to Congress the report on Innovative Technologies to Counter Illicit Finance Involving Digital Assets, as required by the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The report largely reflects the comments Treasury received about how financial institutions (including digital asset service providers (DASPs)) use technologies such as artificial intelligence (AI), digital identity, blockchain analytics, and application programming interfaces (APIs) to detect and disrupt illicit finance involving digital assets, including payment stablecoins. The report highlights many of the challenges and frustrations that institutions are experiencing in trying to adopt these emerging technologies, and promises additional guidance in the future.