[Congressional Record Volume 170, Number 24 (Friday, February 9, 2024)]
[Senate]
[Pages S736-S737]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1567. Mr. WARNER (for himself, Mr. Rounds, Mr. Reed, and Mr. 
Romney) submitted an amendment intended to be proposed to amendment SA 
1388 proposed by Mrs. Murray (for herself and Mr. Schumer) to the bill 
H.R. 815, to amend title 38, United States Code, to make certain 
improvements relating to the eligibility of veterans to receive 
reimbursement for emergency treatment furnished through the Veterans 
Community Care program, and for other purposes; which was ordered to 
lie on the table; as follows:

        At the appropriate place, insert the following:

     DIVISION__TERRORIST FINANCING PREVENTION

 TITLE I--PREVENTION OF ACCESS TO FINANCIAL AND OTHER INSTITUTIONS OF 
THE UNITED STATES BY FOREIGN TERRORIST ORGANIZATIONS AND THEIR ENABLERS

     SEC. 101. DEFINITIONS.

       In this title:
       (1) Digital asset.--The term ``digital asset'' means any 
     digital representation of value that is recorded on a 
     cryptographically secured distributed ledger or any similar 
     technology, or another implementation which was designed and 
     built as part of a system to leverage or replace blockchain 
     or distributed ledger technology or their derivatives.
       (2) Digital asset protocol.--The term ``digital asset 
     protocol'' means any communication protocol, smart contract, 
     or other software--
       (A) deployed through the use of distributed ledger or 
     similar technology; and
       (B) that provides a mechanism for users to interact and 
     agree to the terms of a trade for digital assets.
       (3) Foreign digital asset transaction facilitator.--The 
     term ``foreign digital asset transaction facilitator'' means 
     any foreign person or group of foreign persons that, as 
     determined by the Secretary, controls, operates, or makes 
     available a digital asset protocol or similar facility, or 
     otherwise materially assists in the purchase, sale, exchange, 
     custody, or other transaction involving an exchange or 
     transfer of value using digital assets.
       (4) Foreign financial institution.--The term ``foreign 
     financial institution'' has the meaning given that term under 
     section 561.308 of title 31, Code of Federal Regulations.
       (5) Foreign person.--The term ``foreign person'' means an 
     individual or entity that is not a United States person.
       (6) Foreign terrorist organization.--The term ``Foreign 
     Terrorist Organization'' means an organization that has been 
     designated as a Foreign Terrorist Organization by the 
     Secretary of State, pursuant to section 219 of the 
     Immigration and Nationality Act (8 U.S.C. 1189).
       (7) Secretary.--The term ``Secretary'' means the Secretary 
     of the Treasury.

[[Page S737]]

       (8) Specially designated global terrorist organization.--
     The term ``specially designated global terrorist 
     organization'' means an organization that has been designated 
     as a specially designated global terrorist by the Secretary 
     of State or the Secretary, pursuant to Executive Order 13224 
     (50 U.S.C. 1701 note; relating to blocking property and 
     prohibiting transactions with persons who commit, threaten to 
     commit, or support terrorism).
       (9) United states person.--The term ``United States 
     person'' means--
       (A) an individual who is a United States citizen or an 
     alien lawfully admitted for permanent residence to the United 
     States;
       (B) an entity organized under the laws of the United States 
     or any jurisdiction within the United States, including a 
     foreign branch of such an entity; or
       (C) any person in the United States.

     SEC. 102. SANCTIONS WITH RESPECT TO FOREIGN FINANCIAL 
                   INSTITUTIONS AND FOREIGN DIGITAL ASSET 
                   TRANSACTION FACILITATORS THAT ENGAGE IN CERTAIN 
                   TRANSACTIONS.

       (a) Mandatory Identification.--Not later than 60 days after 
     the date of enactment of this Act, and periodically 
     thereafter, the Secretary shall identify and submit to the 
     President a report identifying any foreign financial 
     institution or foreign digital asset transaction facilitator 
     that has knowingly--
       (1) facilitated a significant financial transaction with--
       (A) a Foreign Terrorist Organization;
       (B) a specially designated global terrorist organization; 
     or
       (C) a person identified on the list of specially designated 
     nationals and blocked persons maintained by the Office of 
     Foreign Assets Control of the Department of the Treasury, the 
     property and interests in property of which are blocked 
     pursuant to the International Emergency Economic Powers Act 
     (50 U.S.C. 1701 et seq.) for acting on behalf of or at the 
     direction of, or being owned or controlled by, a Foreign 
     Terrorist Organization or a specially designated global 
     terrorist organization; or
       (2) engaged in money laundering to carry out an activity 
     described in paragraph (1).
       (b) Imposition of Sanctions.--
       (1) Foreign financial institutions.--The President shall 
     prohibit, or impose strict conditions on, the opening or 
     maintaining of a correspondent account or a payable-through 
     account in the United States by a foreign financial 
     institution identified under subsection (a).
       (2) Foreign digital asset transaction facilitators.--The 
     President, pursuant to such regulations as the President may 
     prescribe, shall prohibit any transactions between any person 
     subject to the jurisdiction of the United States with a 
     foreign digital asset transaction facilitator identified 
     under subsection (a).
       (c) Implementation and Penalties.--
       (1) Implementation.--The President may exercise all 
     authorities provided under sections 203 and 205 of the 
     International Emergency Economic Powers Act (50 U.S.C. 1702, 
     1704) to the extent necessary to carry out this title.
       (2) Penalties.--The penalties set forth in subsections (b) 
     and (c) of section 206 of the International Emergency 
     Economic Powers Act (50 U.S.C. 1705) shall apply to a person 
     that violates, attempts to violate, conspires to violate, or 
     causes a violation of regulations prescribed under this 
     section to the same extent that such penalties apply to a 
     person that commits an unlawful act described in subsection 
     (a) of such section 206.
       (d) Procedures for Judicial Review of Classified 
     Information.--
       (1) In general.--If a finding under this section, or a 
     prohibition, condition, or penalty imposed as a result of any 
     such finding, is based on classified information (as defined 
     in section 1(a) of the Classified Information Procedures Act 
     (18 U.S.C. App.)), the Secretary may submit to a court 
     reviewing the finding or the imposition of the prohibition, 
     condition, or penalty such classified information ex parte 
     and in camera.
       (2) Rule of construction.--Nothing in this subsection shall 
     be construed to confer or imply any right to judicial review 
     of any finding under this subsection or any prohibition, 
     condition, or penalty imposed as a result of any such 
     finding.
       (e) Waiver for National Security.--The Secretary may waive 
     the imposition of sanctions under this section with respect 
     to a person if the Secretary--
       (1) determines that such a waiver is in the national 
     interests of the United States; and
       (2) submits to Congress a notification of the waiver and 
     the reasons for the waiver.
       (f) Exception for Intelligence Activities.--This section 
     shall not apply with respect to any activity subject to the 
     reporting requirements under title V of the National Security 
     Act of 1947 (50 U.S.C. 3091 et seq.) or any authorized 
     intelligence activities of the United States.
       (g) Exception Relating to Importation of Goods.--
       (1) In general.--The authorities and requirements under 
     this section shall not include the authority or a requirement 
     to impose sanctions on the importation of goods.
       (2) Good defined.--In this section, the term ``good'' means 
     any article, natural or manmade substance, material, supply, 
     or manufactured product, including inspection and test 
     equipment, and excluding technical data.

             TITLE II--SPECIAL MEASURES FOR MODERN THREATS

     SEC. 201. PROHIBITIONS OR CONDITIONS ON CERTAIN TRANSMITTALS 
                   OF FUNDS.

       Section 5318A of title 31, United States Code, is amended--
       (1) in subsection (a)(2)(C), by striking ``subsection 
     (b)(5)'' and inserting ``paragraphs (5) and (6) of subsection 
     (b)''; and
       (2) in subsection (b)--
       (A) in paragraph (5), by striking ``for or on behalf of a 
     foreign banking institution''; and
       (B) by adding at the end the following:
       ``(6) Prohibitions or conditions on certain transmittals of 
     funds.--If the Secretary finds a jurisdiction outside of the 
     United States, 1 or more financial institutions operating 
     outside of the United States, 1 or more types of accounts 
     within, or involving, a jurisdiction outside of the United 
     States, or 1 or more classes of transactions within, or 
     involving, a jurisdiction outside of the United States to be 
     of primary money laundering concern, the Secretary, in 
     consultation with the Secretary of State, the Attorney 
     General, and the Chairman of the Board of Governors of the 
     Federal Reserve System, may prohibit, or impose conditions 
     upon, certain transmittals of funds (as such term may be 
     defined by the Secretary in a special measure issuance, by 
     regulation, or as otherwise permitted by law), to or from any 
     domestic financial institution or domestic financial agency 
     if such transmittal of funds involves any such jurisdiction, 
     institution, type of account, class of transaction, or type 
     of account.''.

                           TITLE III--FUNDING

     SEC. 301. ADEQUATE FUNDING TO PREVENT EVASION OF COUNTER-
                   TERRORISM SANCTIONS AND FINANCIAL CRIME 
                   ENFORCEMENT.

       There are authorized to be appropriated to the Secretary of 
     the Treasury such funds as are necessary to carry out the 
     purposes of this division.
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