,,ii #aah? ,,congress #a/ ,session ,s4 #dha ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,febru>y #af1 #bjbc,mr4 ,scott ( ,florida 7= himself & ,mr4 ,cram]7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to impose sanctions to det] aggression by ! ,p's ,republic ( ,*9a aga9/ ,taiwan1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,det]r+ ,communi/ ,*9ese ,aggression aga9/ ,taiwan ?r\gh ,f9ancial ,sanctions ,act ( #bjbc4 #b4 ,f9d+s ,congress makes ! foll[+ f9d+s3 7#a7 ,taiwan is a self-gov]n+ polity ) all ! attributes ( a con/itutional democratic republic & consi/5tly a*ieves exce$+ly high scores f ,fre$om ,h\se's ,fre$om 9 ! ,_w ,index4 7#b7 ,taiwan practices & en%r9es 9 law a free m>ket & entrepr5eurial economy & consi/5tly a*ieves exce$+ly high scores 9 ! ,h]itage ,f\ndation's ,index ( ,economic ,fre$om4 7#c7 ,taiwan's gov]nm5t & political culture *]i% individual rights & ! protection ( e?nic m9orities1 & d s ?r\gh respect = ! rule ( law4 7#d7 ,taiwan's democracy1 free m>ket economy1 & cultural1 indu/rial1 & sci5tific a*ievem5ts h made x a model = ! _w z x contributes greatly to ! peace1 prosp]ity1 & well-be+ ( ! ,unit$ ,/ates & all o!r c\ntries t trade & coop]ate ) ,taiwan despite ! con/ra9ts on trade & coop]ation result+ f ! ?reats & intimidation by ! ,communi/ ,p>ty ( ,*9a aga9/ c\ntries t seek relations ) ,taiwan4 7#e7 ,section #b7;b7 ( ! ,taiwan ,relations ,act 7#bb ,u4,s4,c4 #ccja7;b77 ass]ts t x is ! policy ( ! ,unit$ ,/ates-- 7,a7 to decl>e t peace & /ability 9 ! area are 9 ! political1 security1 & economic int]e/s ( ! ,unit$ ,/ates1 & are matt]s ( int]national conc]n2 7,b7 to make cle> t ! ,unit$ ,/ates decision to e/abli% diplomatic relations ) ! ,p's ,republic ( ,*9a re/s ^u ! expectation t ! future ( ,taiwan w be det]m9$ by peaceful means2 7,c7 to consid] any ef=t to det]m9e ! future ( ,taiwan by o!r ?an peaceful means1 includ+ by boycotts or emb>goes1 a ?reat to ! peace & security ( ! ,we/]n ,pacific area & ( grave conc]n to ! ,unit$ ,/ates2 & 7,d7 to ma9ta9 ! capacity ( ! ,unit$ ,/ates to resi/ any resort to =ce or o!r =ms ( co]cion t w\ld jeop>dize ! security1 or ! social or economic sy/em1 ( ! p on ,taiwan4 7#f7 ,! ,*9ese ,communi/ ,p>ty1 especially "u ! lead]%ip ( ,g5]al ,secret>y ,xi ,j9p+1 ?reat5s ,taiwan 9 t]ms ( national security1 trade1 & its relation%ips ) c\ntries & int]national organizations4 7#g7 ,su* ?reats are design$ to intimidate ,taiwan into submission to ,communi/ ,p>ty rule & to cause o!r c\ntries & int]national organizations to %un ,taiwan & cut (f relations ) x4 7#h7 ,g5]al ,secret>y ,xi & ! ,communi/ ,p>ty h made cle> _! int5tion to take ,taiwan by =ce if !y s *oose1 & !y demon/rate t int5tion ) increas$ provocative & dang]\s actions ?reat5+ ! peace aga9/ ,taiwan 9 ! ,taiwan ,/raits4 7#i7 ,support+ ,taiwan's def5se aga9/ su* increas+ly imm95t ?reats is a vital int]e/ ( ! ,unit$ ,/ates = ! sake ( ! national security ( ! ,unit$ ,/ates & allies ( ! ,unit$ ,/ates 9 ! region1 & ! pres]vation ( democracy1 free m>ket economics1 & ! rules & norms ( ! int]national ord]4 7#aj7 ,! peace & /ability ( ! entire ,pacific region & ! c\ntries 9 t region require t ,taiwan n be subject$ to ! rule ( ! ,communi/ ,p>ty ( ,*9a4 7#aa7 ,! cr$ibility ( ! av[al ( ! ,unit$ ,/ates to def5d ! pr9ciples ( ! ,unit$ ,/ates & ! pr9ciples ! int]national ord] is built ^u require a policy t c & w det] & ?w>t any attempt by ! ,communi/ ,p>ty ( ,*9a to dom9ate ,taiwan by co]cion4 #c4 ,/atem5t ( policy ,x is ! policy ( ! ,unit$ ,/ates to sev] all f9ancial transactions betwe5 ! ,unit$ ,/ates & ! ,p's ,republic ( ,*9a1 includ+ any & all public or private entities 9 ! ,p's ,republic ( ,*9a1 if ! ,gov]nm5t ( ! ,p's ,republic ( ,*9a or any =ces subject to ! control ( t ,gov]nm5t-- 7#a7 engage 9 arm$ aggression aga9/ ,taiwan2 7#b7 invade ! t]ritory ( ,taiwan1 includ+ ! ma9l& ( ,taiwan & any t]ritories "u its control1 )\t reg>d to :e!r ^? t]ritories are inhabit$ or n2 7#c7 blockade by sea or air ! ma9l& ( ,taiwan or t]ritories "u its control2 or 7#d7 attempt to *ange ! /atus ( ,taiwan or its gov]nm5t by =ce or co]cive actions4 #d4 ,def9itions ,9 ?is ,act3 7#a7 ,appropriate congressional committees ,! t]m appropriate congressional committees means-- 7,a7 ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs & ! ,committee on ,f9ance ( ! ,s5ate2 & 7,b7 ! ,committee on ,f9ancial ,s]vices & ! ,committee on ,ways & ,means ( ! ,h\se ( ,repres5tatives4 7#b7 ,*9ese milit>y company ,! t]m ,*9ese milit>y company means an entity on ! mo/ rec5t li/ requir$ to be submitt$ "u section #abfj;,h ( ! ,william ,m4 7,mac7 ,?ornb]ry ,national ,def5se ,au?orization ,act = ,fiscal ,ye> #bjba 7,public ,law #aaf-bhc2 #aj ,u4,s4,c4 #aac note74 7#c7 ,*9ese p]son ,! t]m ,*9ese p]son means-- 7,a7 an individual :o is a citiz5 or national ( ! ,p's ,republic ( ,*9a2 or 7,b7 an entity organiz$ "u ! laws ( ! ,p's ,republic ( ,*9a or o!rwise subject to ! jurisdiction ( ! ,gov]nm5t ( ! ,p's ,republic ( ,*9a4 7#d7 ,f9ancial in/itution ,! t]m f9ancial in/itution means a f9ancial in/itution specifi$ 9 subp>agraph 7,a71 7,b71 7,c71 7,d71 7,e71 7,f71 7,g71 7,h71 7,i71 7,j71 7,k71 7,m71 7,n71 7,p71 7,r71 7,t71 7,y71 or 7,z7 ( section #ecab7;a77#b7 ( title #ca1 ,unit$ ,/ates ,code4 7#e7 ,=eign f9ancial in/itution ,! t]m =eign f9ancial in/itution has ! mean+ giv5 t t]m 9 section #ajaj4fje ( title #ca1 ,code ( ,f$]al ,regulations 7or any correspond+ simil> regulation or rul+74 7#f7 ,issu]2 security ,! t]ms issu] & security h ! mean+s giv5 ^? t]ms 9 section #c7;a7 ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;c74 7#g7 ,national securities ex*ange ,! t]m national securities ex*ange means an ex*ange regi/]$ z a national securities ex*ange 9 accordance ) section #f ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;f74 7#h7 ,trigg]+ ev5t ,! t]m trigg]+ ev5t means any attempt by ! ,gov]nm5t ( ! ,p's ,republic ( ,*9a or any =ces subject to ! control ( t ,gov]nm5t to subject ,taiwan to ! control ( ! ,p's ,republic ( ,*9a1 includ+ ?\gh any ( ! foll[+ acts3 7,a7 ,engag+ 9 arm$ aggression aga9/ ,taiwan4 7,b7 ,invad+ ! t]ritory ( ,taiwan1 includ+ ! ma9l& ( ,taiwan & any t]ritories "u its control1 )\t reg>d to :e!r ^? t]ritories are inhabit$ or n4 7,c7 ,blockad+ by sea or air ! ma9l& ( ,taiwan or t]ritories "u its control4 7,d7 ,attempt+ to *ange ! /atus ( ,taiwan or its gov]nm5t by =ce or co]cive actions4 7#i7 ,unit$ /ates p]son ,! t]m ,unit$ ,/ates p]son means-- 7,a7 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 #e4 ,imposition ( sanctions ) respect to ,*9ese p]sons responsible = aggression aga9/ ,taiwan 7a7 ,initial imposition ( sanctions ,on & aft] ! date t is #cj days aft] a trigg]+ ev5t1 ! ,presid5t %all impose ! sanctions describ$ 9 subsection 7b7 ) respect to any ,*9ese p]son1 includ+ any s5ior (ficial ( ! ,gov]nm5t ( ! ,p's ,republic ( ,*9a1 t ! ,presid5t det]m9es p>ticipates 9 a trigg]+ ev5t4 7b7 ,sanctions describ$ ,! sanctions to be impos$ ) respect to a p]son describ$ 9 subsection 7a7 are ! foll[+3 7#a7 ,block+ ( prop]ty 7,a7 ,9 g5]al ,! ,presid5t %all ex]cise all ( ! p[]s grant$ by ! ,int]national ,em]g5cy ,economic ,p[]s ,act 7#ej ,u4,s4,c4 #agja et seq47 to block & prohibit all transactions 9 all prop]ty & int]e/s 9 prop]ty ( ! p]son if su* prop]ty & int]e/s 9 prop]ty are 9 ! ,unit$ ,/ates1 come )9 ! ,unit$ ,/ates1 or come )9 ! possession or control ( a ,unit$ ,/ates p]son4 7,b7 ,inapplicability ( national em]g5cy requirem5t ,! requirem5ts ( section #bjb ( ! ,int]national ,em]g5cy ,economic ,p[]s ,act 7#ej ,u4,s4,c4 #agja7 %all n apply = purposes ( subp>agraph 7,a74 7#b7 ,ineligibility = visas1 admission1 or p>ole 7,a7 ,visas1 admission1 or p>ole ,9 ! case ( an ali51 ! ali5 %all be-- 7i7 inadmissible to ! ,unit$ ,/ates2 7ii7 ineligible to receive a visa or o!r docum5tation to ent] ! ,unit$ ,/ates2 & 7iii7 o!rwise ineligible to be admitt$ or p>ol$ into ! ,unit$ ,/ates or to receive any o!r b5efit "u ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaja et seq474 7,b7 ,curr5t visas revok$ 7i7 ,9 g5]al ,an ali5 describ$ 9 subp>agraph 7,a7 %all be subject to revocation ( any visa or o!r entry docum5tation reg>dless ( :5 ! visa or o!r entry docum5tation is or 0 issu$4 7ii7 ,imm$iate effect ,a revocation "u clause 7i7 %all-- 7,i7 take effect imm$iately2 & 7,,ii7 cancel any o!r valid visa or entry docum5tation t is 9 ! ali5's possession4 7#c7 ,exclusion ( corporate (fic]s ,! ,presid5t %all direct ! ,secret>y ( ,/ate to d5y a visa to1 & ! ,secret>y ( ,homel& ,security to exclude f ! ,unit$ ,/ates1 any ali5 t ! ,presid5t det]m9es is a corporate (fic] or pr9cipal (1 or a %>ehold] ) a controll+ int]e/ 91 ! p]son4 7#d7 ,export sanction ,! ,presid5t may ord] ! ,unit$ ,/ates ,gov]nm5t n to issue any specific lic5se & n to grant any o!r specific p]mission or au?ority to export any goods or te*nology to ! p]son "u-- 7,a7 ! ,export ,control ,re=m ,act ( #bjah 7#ej ,u4,s4,c4 #dhja et seq472 or 7,b7 any o!r /atute t requires ! prior review & approval ( ! ,unit$ ,/ates ,gov]nm5t z a condition = ! export or reexport ( goods or s]vices4 7#e7 ,inclusion on entity li/ ,! ,presid5t %all include ! entity on ! entity li/ ma9ta9$ by ! ,bureau ( ,indu/ry & ,security ( ! ,dep>tm5t ( ,comm]ce & set =? 9 ,supplem5t ,no4 #d to "p #gdd ( ! ,export ,adm9i/ration ,regulations1 = activities contr>y to ! national security or =eign policy int]e/s ( ! ,unit$ ,/ates4 7#f7 ,ban on inve/m5t 9 equity or debt ( sanction$ p]son ,! ,presid5t %all1 pursuant to su* regulations or guidel9es z ! ,presid5t may prescribe1 prohibit any ,unit$ ,/ates p]son f inve/+ 9 or pur*as+ equity or debt in/rum5ts ( ! p]son4 7#g7 ,bank+ transactions ,! ,presid5t %all1 pursuant to su* regulations z ! ,presid5t may prescribe1 prohibit any transf]s ( cr$it or paym5ts betwe5 f9ancial in/itutions or by1 ?r\gh1 or to any f9ancial in/itution1 to ! ext5t t su* transf]s or paym5ts are subject to ! jurisdiction ( ! ,unit$ ,/ates & involve any int]e/ ( ! p]son4 7#h7 ,correspond5t & payable-?r\gh acc\nts ,9 ! case ( a =eign f9ancial in/itution1 ! ,presid5t may prohibit ! op5+1 & prohibit or impose /rict conditions on ! ma9ta9+1 9 ! ,unit$ ,/ates ( a correspond5t acc\nt or a payable-?r\gh acc\nt by ! =eign f9ancial in/itution4 7c7 ,exceptions 7#a7 ,exception = intellig5ce1 law en=cem5t1 & national security activities ,sanctions "u ?is section %all n apply to any au?oriz$ intellig5ce1 law en=cem5t1 or national security activities ( ! ,unit$ ,/ates4 7#b7 ,compliance ) unit$ nations headqu>t]s agreem5t ,p>agraphs 7#b7 & 7#c7 ( subsection 7b7 %all n apply ) respect to ! admission ( an ali5 to ! ,unit$ ,/ates if su* admission is necess>y to p]mit ! ,unit$ ,/ates to comply ) ! ,agreem5t reg>d+ ! ,headqu>t]s ( ! ,unit$ ,nations1 sign$ at ,lake ,success1 ,june #bf1 #aidg1 & ent]$ into =ce1 ,novemb] #ba1 #aidg1 betwe5 ! ,unit$ ,nations & ! ,unit$ ,/ates4 7d7 ,def9itions ,9 ?is section3 7#a7 ,acc\nt2 correspond5t acc\nt2 payable-?r\gh acc\nt ,! t]ms acc\nt1 correspond5t acc\nt1 & payable-?r\gh acc\nt h ! mean+s giv5 ^? t]ms 9 section #ecah;,a ( title #ca1 ,unit$ ,/ates ,code4 7#b7 ,admission2 admitt$2 ali5 ,! t]ms admission1 admitt$1 & ali5 h ! mean+s giv5 ^? t]ms 9 section #aja ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaja74 #f4 ,prohibition on li/+ ( ,*9ese entities on ,unit$ ,/ates securities ex*anges 7a7 ,9 g5]al ,! ,securities & ,ex*ange ,commission %all prohibit ! securities ( an issu] describ$ 9 subsection 7b7 f be+ trad$ on a national securities ex*ange on or aft] ! date t is #fj days aft] a trigg]+ ev5t4 7b7 ,issu]s describ$ ,an issu] describ$ 9 ?is subsection is an issu] t is-- 7#a7 a ,*9ese p]son2 7#b7 own$ or controll$ by a ,*9ese p]son2 or 7#c7 a successor entity to a p]son describ$ 9 p>agraph 7#a7 or 7#b74 #g4 ,prohibition on transactions 9 securities ( ,*9ese milit>y companies 7a7 ,9 g5]al ,beg9n+ on ! date t is #fj days aft] a trigg]+ ev5t1 any transaction by any ,unit$ ,/ates p]son or )9 ! ,unit$ ,/ates 9 any security ( an issu] describ$ 9 subsection 7b71 or any in/rum5t t is d]ivative ( or design$ to provide inve/m5t exposure to any su* security1 is prohibit$4 7b7 ,issu]s describ$ ,an issu] describ$ 9 ?is subsection 7b7 is an issu] t is-- 7#a7 a ,*9ese milit>y company2 7#b7 own$ or controll$ by a ,*9ese milit>y company2 or 7#c7 a successor entity to a ,*9ese milit>y company4 #h4 ,prohibition on transactions ) c]ta9 ,*9ese s(tw>e companies 7a7 ,9 g5]al ,beg9n+ on ! date t is #cj days aft] a trigg]+ ev5t1 any transaction by a ,unit$ ,/ates p]son or )9 ! ,unit$ ,/ates ) any p]son describ$ 9 subsection 7b7 is prohibit$4 7b7 ,p]sons describ$ ,a p]son describ$ 9 ?is subsection is a p]son t-- 7#a7 ! ,secret>y ( ,comm]ce det]m9es develops or controls a s(tw>e application describ$ 9 subsection 7c72 or 7#b7 is own$ or controll$ by a p]son describ$ 9 p>agraph 7#a74 7c7 ,s(tw>e applications specifi$ ,a s(tw>e application describ$ 9 ?is subsection is any ( ! foll[+3 7#a7 ,alipay4 7#b7 ,cam,scanner4 7#c7 ,,qq ,wallet4 7#d7 ,s,h,a,r,eit4 7#e7 ,t5c5t ,,qq4 7#f7 ,v,mate4 7#g7 ,we,chat ,pay4 7#h7 ,,wps ,(fice4 7#i7 ,any o!r connect$ s(tw>e application-- 7,a7 provid+ digital e-wallet plat=ms or digital f9ancial messag+ sy/ems2 7,b7 develop$ or op]at$ by a ,*9ese p]son2 & 7,c7 det]m9$ by ! ,secret>y ( ,comm]ce to pose an unacceptable risk to ! national security1 =eign policy1 or economy ( ! ,unit$ ,/ates4 7d7 ,connect$ s(tw>e application def9$ ,9 ?is section1 ! t]m connect$ s(tw>e application means s(tw>e1 a s(tw>e program1 or gr\p ( s(tw>e programs1 design$-- 7#a7 to be us$ by an end us] on an end-po9t comput+ device & to collect1 process1 or transmit data via ! int]net z an integral "p ( its functionality2 or 7#b7 to facilitate int]national f9ancial transactions1 digital e-wallet s]vices1 digital curr5cy transactions1 mobile paym5ts1 or int]national f9ancial messag+ s]vices4 #i4 ,imposition ( sanctions ) respect to int]national f9ancial messag+ sy/ems ,if1 on or aft] ! date t is #fj days aft] ! trigg]+ action1 a global f9ancial communications s]vices provid] has n t]m9at$ ! provision ( f9ancial communications s]vices to1 & ! enabl+ & facilitation ( access to su* s]vices =1 ! ,c5tral ,bank ( ,*9a & any =eign f9ancial in/itution subject to sanctions "u ?is ,act1 ! ,presid5t %all impose sanctions pursuant to ! ,int]national ,em]g5cy ,economic ,p[]s ,act 7#ej ,u4,s4,c4 #agja et seq47 ) respect to ! f9ancial communications s]vices provid] & ! directors (1 & %>ehold]s ) a significant int]e/ 91 ! provid]4 #aj4 ,prohibition on transactions relat+ to digital curr5cy issu$ by ! ,p's ,republic ( ,*9a ,any transaction by a ,unit$ ,/ates p]son or )9 ! ,unit$ ,/ates relat$ to1 provid+ f9anc+ =1 & o!rwise deal+ 91 any digital curr5cy1 digital co91 or digital tok51 t 0 issu$ by1 =1 or on behalf ( ! ,gov]nm5t ( ! ,p's ,republic ( ,*9a on or aft] ! date t is #cj days aft] a trigg]+ ev5t1 is prohibit$4 #aa4 ,implem5tation2 p5alties 7a7 ,implem5tation ,! ,presid5t %all ex]cise all au?orities provid$ to ! ,presid5t "u sections #bjc & #bje ( ! ,int]national ,em]g5cy ,economic ,p[]s ,act 7#ej ,u4,s4,c4 #agjb & #agjd7 to c>ry out ?is ,act4 7b7 ,p5alties ,a p]son t violates1 attempts to violate1 conspires to violate1 or causes a violation ( ?is ,act or any regulation1 lic5se1 or ord] issu$ to c>ry out ?is ,act %all be subject to ! p5alties set =? 9 subsections 7b7 & 7c7 ( section #bjf ( ! ,int]national ,em]g5cy ,economic ,p[]s ,act 7#ej ,u4,s4,c4 #agje7 to ! same ext5t z a p]son t commits an unlawful act describ$ 9 subsection 7a7 ( t section4 #ab4 ,exception relat+ to importation ( goods 7a7 ,9 g5]al ,! au?ority or a requirem5t to impose sanctions or a prohibition "u ?is ,act %all n include ! au?ority or a requirem5t to impose sanctions or a prohibition on ! importation ( goods4 7b7 ,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