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Severe Financial Sanctions on China to Deter Aggression Against Taiwan.

This bill mandates immediate and severe financial sanctions against China and related entities if they engage in armed aggression, blockade, or coercive actions against Taiwan. For US citizens, this means a ban on investing in sanctioned Chinese companies, severing most financial transactions with China, and prohibiting the use of certain Chinese financial apps and digital currencies. Implementation of these sanctions would significantly impact investment portfolios and international trade conducted by US citizens and companies.
Key points
Automatic severance of all financial transactions between the US and China following aggression against Taiwan (a 'triggering event').
US citizens are prohibited from investing in equity and debt of sanctioned Chinese military companies and related entities.
Chinese companies would be delisted from US stock exchanges, and transactions with key Chinese financial software (e.g., Alipay, WeChat Pay) and China-issued digital currency would be banned.
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Additional Information
Print number: 118_S_481
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2023-02-16
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Deterring Communist Chinese Aggression against Taiwan through Financial Sanctions Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_481.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-02-16.

What are the main provisions?

Key points include:

  • Automatic severance of all financial transactions between the US and China following aggression against Taiwan (a 'triggering event').
  • US citizens are prohibited from investing in equity and debt of sanctioned Chinese military companies and related entities.
  • Chinese companies would be delisted from US stock exchanges, and transactions with key Chinese financial software (e.g., Alipay, WeChat Pay) and China-issued digital currency would be banned.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Scott, Rick [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy Security Courts and Law