Countering Atrocities Through Currency Accountability Act of 2022
This act aims to prevent the U.S. currency market from supporting egregious human rights violations. The Secretary of the Treasury can impose special measures on countries or financial institutions linked to such violations. Citizens may experience indirect effects through increased financial transaction transparency and potential trade restrictions with entities involved in human rights abuses.
Key points
Allows for special measures against countries or financial institutions supporting human rights violations.
Requires financial institutions to increase scrutiny of transactions and account ownership to prevent supporting atrocities.
Mandates an assessment of China's Xinjiang region for human rights ties and potential measure imposition.
Requires a report on polysilicon production in Xinjiang and the use of forced labor.
Status:
Expired
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