,,ii  #aah? ,,congress  #a/ ,session    
,s4 #cdda  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #g1 #bjbc,mr4 
,w>n] 7= himself1 ,mr4 ,r\nds1 ,mr4     
,re$1 & ,mr4 ,romney7 introduc$ ! foll[+
 bill2 :i* 0 read twice & ref]r$ to !   
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs  ,a ,,bill  ,to prev5t ,=eign  
,t]rori/ ,organizations & _! f9ancial   
enabl]s1 :e!r 9 curr5cy or digital      
assets1 f access+ f9ancial & o!r        
in/itutions ( ! ,unit$ ,/ates1 & = o!r  
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,t]rori/ ,f9anc+ ,prev5tion
 ,act ( #bjbc4  ,i ,prev5tion ( access  
to f9ancial & o!r in/itutions ( ! ,unit$
 ,/ates by ,=eign ,t]rori/              
,organizations & _! enabl]s  #aja4      
,def9itions ,9 ?is title3 7#a7 ,digital 
asset ,! t]m digital asset means any    
digital repres5tation ( value t is      
record$ on a cryptographically secur$   
di/ribut$ l$g] or any simil> te*nology1 
or ano!r implem5tation :i* 0 design$ &  
built z "p ( a sy/em to lev]age or      

replace block*a9 or di/ribut$ l$g]      
te*nology or _! d]ivatives4  7#b7       
,digital asset protocol ,! t]m digital  
asset protocol means any communication  
protocol1 sm>t contract1 or o!r s(tw>e--
 7,a7 deploy$ ?r\gh ! use ( di/ribut$   
l$g] or simil> te*nology2 &  7,b7 t     
provides a me*anism = us]s to int]act & 
agree to ! t]ms ( a trade = digital     
assets4  7#c7 ,=eign digital asset      
transaction facilitator ,! t]m =eign    
digital asset transaction facilitator   
means any =eign p]son or gr\p ( =eign   
p]sons t1 z det]m9$ by ! ,secret>y1     
controls1 op]ates1 or makes available a 
digital asset protocol or simil>        
facility1 or o!rwise mat]ially assi/s 9 
! pur*ase1 sale1 ex*ange1 cu/ody1 or o!r
 transaction involv+ an ex*ange or      
transf] ( value us+ digital assets4     
7#d7 ,=eign f9ancial in/itution ,! t]m  
=eign f9ancial in/itution has ! mean+   
giv5 t t]m "u section #efa4cjh ( title  
#ca1 ,code ( ,f$]al ,regulations4  7#e7 
,=eign p]son ,! t]m =eign p]son means an

 individual or entity t is n a ,unit$   
,/ates p]son4  7#f7 ,=eign ,t]rori/     
,organization ,! t]m ,=eign ,t]rori/    
,organization means an organization t   
has be5 designat$ z a ,=eign ,t]rori/   
,organization by ! ,secret>y ( ,/ate1   
pursuant to section #bai ( !            
,immigration & ,nationality ,act 7#h    
,u4,s4,c4 #aahi74  7#g7 ,secret>y ,! t]m
 ,secret>y means ! ,secret>y ( !        
,treasury4  7#h7 ,specially designat$   
global t]rori/ organization ,! t]m      
specially designat$ global t]rori/      
organization means an organization t has
 be5 designat$ z a specially designat$  
global t]rori/ by ! ,secret>y ( ,/ate or
 ! ,secret>y1 pursuant to ,executive    
,ord] #acbbd 7#ej ,u4,s4,c4 #agja note2 
relat+ to block+ prop]ty & prohibit+    
transactions ) p]sons :o commit1 ?reat5 
to commit1 or support t]rorism74  7#i7  
,unit$ ,/ates p]son ,! t]m ,unit$ ,/ates
 p]son means-- 7,a7 an individual :o is 
a ,unit$ ,/ates citiz5 or an ali5       
lawfully admitt$ = p]man5t resid5ce to !

 ,unit$ ,/ates2  7,b7 an entity organiz$
 "u ! laws ( ! ,unit$ ,/ates or any     
jurisdiction )9 ! ,unit$ ,/ates1 includ+
 a =eign bran* ( su* an entity2 or  7,c7
 any p]son 9 ! ,unit$ ,/ates4  #ajb4    
,sanctions ) respect to =eign f9ancial  
in/itutions & =eign digital asset       
transaction facilitators t engage 9     
c]ta9 transactions  7a7 ,m&atory        
id5tification ,n lat] ?an #fj days aft] 
! date ( enactm5t ( ?is ,act1 &         
p]iodically !reaft]1 ! ,secret>y %all   
id5tify & submit to ! ,presid5t a report
 id5tify+ any =eign f9ancial in/itution 
or =eign digital asset transaction      
facilitator t has kn[+ly-- 7#a7         
facilitat$ a significant f9ancial       
transaction )-- 7,a7 a ,=eign ,t]rori/  
,organization2  7,b7 a specially        
designat$ global t]rori/ organization2  
or  7,c7 a p]son id5tifi$ on ! li/ (    
specially designat$ nationals & block$  
p]sons ma9ta9$ by ! ,(fice ( ,=eign     
,assets ,control ( ! ,dep>tm5t ( !      
,treasury1 ! prop]ty & int]e/s 9 prop]ty

 ( :i* are block$ pursuant to !         
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agja et seq47 =    
act+ on behalf ( or at ! direction (1 or
 be+ own$ or controll$ by1 a ,=eign     
,t]rori/ ,organization or a specially   
designat$ global t]rori/ organization2  
or  7#b7 engag$ 9 money laund]+ to c>ry 
out an activity describ$ 9 p>agraph     
7#a74  7b7 ,imposition ( sanctions  7#a7
 ,=eign f9ancial in/itutions ,!         
,presid5t %all prohibit1 or impose /rict
 conditions on1 ! op5+ or ma9ta9+ ( a   
correspond5t acc\nt or a payable-?r\gh  
acc\nt 9 ! ,unit$ ,/ates by a =eign     
f9ancial in/itution id5tifi$ "u         
subsection 7a74  7#b7 ,=eign digital    
asset transaction facilitators ,!       
,presid5t1 pursuant to su* regulations z
 ! ,presid5t may prescribe1 %all        
prohibit any transactions betwe5 any    
p]son subject to ! jurisdiction ( !     
,unit$ ,/ates ) a =eign digital asset   
transaction facilitator id5tifi$ "u     
subsection 7a74  7c7 ,implem5tation &   

p5alties  7#a7 ,implem5tation ,!        
,presid5t may ex]cise all au?orities    
provid$ "u sections #bjc & #bje ( !     
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agjb1 #agjd7 to !  
ext5t necess>y to c>ry out ?is ,act4    
7#b7 ,p5alties ,! p5alties set =? 9     
subsections 7b7 & 7c7 ( section #bjf ( !
 ,int]national ,em]g5cy ,economic ,p[]s 
,act 7#ej ,u4,s4,c4 #agje7 %all apply to
 a p]son t violates1 attempts to        
violate1 conspires to violate1 or causes
 a violation ( regulations prescrib$ "u 
?is section to ! same ext5t t su*       
p5alties apply to a p]son t commits an  
unlawful act describ$ 9 subsection 7a7 (
 su* section #bjf4  7d7 ,proc$ures =    
judicial review ( classifi$ in=mation   
7#a7 ,9 g5]al ,if a f9d+ "u ?is section1
 or a prohibition1 condition1 or p5alty 
impos$ z a result ( any su* f9d+1 is    
bas$ on classifi$ in=mation 7z def9$ 9  
section #a7;a7 ( ! ,classifi$ ,in=mation
 ,proc$ures ,act 7#ah ,u4,s4,c4 ,app4771
 ! ,secret>y may submit to a c\rt       

review+ ! f9d+ or ! imposition ( !      
prohibition1 condition1 or p5alty su*   
classifi$ in=mation ex p>te & 9 cam]a4  
7#b7 ,rule ( con/ruction ,no?+ 9 ?is    
subsection %all be con/ru$ to conf] or  
imply any "r to judicial review ( any   
f9d+ "u ?is subsection or any           
prohibition1 condition1 or p5alty impos$
 z a result ( any su* f9d+4  7e7 ,waiv] 
= national security ,! ,secret>y may    
waive ! imposition ( sanctions "u ?is   
section ) respect to a p]son if !       
,secret>y-- 7#a7 det]m9es t su* a waiv] 
is 9 ! national int]e/s ( ! ,unit$      
,/ates2 &  7#b7 submits to ,congress a  
notification ( ! waiv] & ! reasons = !  
waiv]4  7f7 ,exception = intellig5ce    
activities ,?is section %all n apply )  
respect to any activity subject to !    
report+ requirem5ts "u title ,v ( !     
,national ,security ,act ( #aidg 7#ej   
,u4,s4,c4 #cjia et seq47 or any au?oriz$
 intellig5ce activities ( ! ,unit$      
,/ates4  7g7 ,exception relat+ to       
importation ( goods  7#a7 ,9 g5]al ,!   

au?orities & requirem5ts "u ?is section 
%all n include ! au?ority or a          
requirem5t to impose sanctions on !     
importation ( goods4  7#b7 ,good def9$  
,9 ?is section1 ! t]m good means any    
article1 natural or manmade sub/ance1   
mat]ial1 supply1 or manufactur$ product1
 includ+ inspection & te/ equipm5t1 &   
exclud+ te*nical data4  ,,ii ,special   
measures = mod]n ?reats  #bja4          
,prohibitions or conditions on c]ta9    
transmittals ( funds ,section #ecah;,a (
 title #ca1 ,unit$ ,/ates ,code1 is     
am5d$-- 7#a7 9 subsection 7a77#b77;,c71 
by /rik+ subsection 7b77#e7 & ins]t+    
p>agraphs 7#e7 & 7#f7 ( subsection 7b72 
&  7#b7 9 subsection 7b7-- 7,a7 9       
p>agraph 7#e71 by /rik+ = or on behalf (
 a =eign bank+ in/itution2 &  7,b7 by   
add+ at ! end ! foll[+3  7#f7           
,prohibitions or conditions on c]ta9    
transmittals ( funds ,if ! ,secret>y    
f9ds a jurisdiction outside ( ! ,unit$  
,/ates1 #a or m f9ancial in/itutions    
op]at+ outside ( ! ,unit$ ,/ates1 #a or 

m types ( acc\nts )91 or involv+1 a     
jurisdiction outside ( ! ,unit$ ,/ates1 
or #a or m classes ( transactions )91 or
 involv+1 a jurisdiction outside ( !    
,unit$ ,/ates to be ( prim>y money      
laund]+ conc]n1 ! ,secret>y1 9          
consultation ) ! ,secret>y ( ,/ate1 !   
,attorney ,g5]al1 & ! ,*airman ( ! ,bo>d
 ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 
may prohibit1 or impose conditions ^u1  
c]ta9 transmittals ( funds 7z su* t]m   
may be def9$ by ! ,secret>y 9 a special 
measure issuance1 by regulation1 or z   
o!rwise p]mitt$ by law71 to or f any    
dome/ic f9ancial in/itution or dome/ic  
f9ancial ag5cy if su* transmittal (     
funds involves any su* jurisdiction1    
in/itution1 type ( acc\nt1 class (      
transaction1 or type ( acc\nt4  4  ,,iii
 ,fund+  #cja4 ,adequate fund+ to prev5t
 evasion ( c\nt]-t]rorism sanctions &   
f9ancial crime en=cem5t ,!re are        
au?oriz$ to be appropriat$ to !         
,secret>y ( ! ,treasury su* funds z are 
necess>y to c>ry out ! purposes ( ?is   

,act4