Stopping Terrorist Financing: New Sanctions on Digital Assets and Foreign Banks.
This law aims to enhance national security by cutting off foreign terrorist organizations from the US financial system, including digital assets like cryptocurrencies. It mandates sanctions against foreign financial institutions and digital platforms (crypto protocols) that knowingly facilitate terrorist financing. US citizens and entities will be prohibited from conducting transactions with these sanctioned foreign digital asset facilitators.
Key points
Mandatory sanctions against foreign financial institutions and digital asset platforms that facilitate terrorist financing.
US persons are prohibited from engaging in any transactions with sanctioned foreign digital asset facilitators.
Expands the Treasury Secretary's power to restrict or condition fund transfers from jurisdictions identified as primary money laundering concerns.
Expired
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