Us Congress 2025-2026 Regular Session

Us Congress Senate Bill SB1339 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	II
2	2	119THCONGRESS
3	3	1
4	4	STSESSION S. 1339
5	5	To require a determination and report relating to money laundering and
6	6	violations of export controls and sanctions in Hong Kong.
7	7	IN THE SENATE OF THE UNITED STATES
8	8	APRIL8, 2025
9	9	Mr. C
10	10	URTIS(for himself and Mr. MERKLEY) introduced the following bill;
11	11	which was read twice and referred to the Committee on Banking, Hous-
12	12	ing, and Urban Affairs
13	13	A BILL
14	14	To require a determination and report relating to money
15	15	laundering and violations of export controls and sanc-
16	16	tions in Hong Kong.
17	17	Be it enacted by the Senate and House of Representa-1
18	18	tives of the United States of America in Congress assembled, 2
19	19	SECTION 1. SHORT TITLE. 3
20	20	This Act may be cited as the ‘‘Stop Corrupt Com-4
21	21	munist Party Money Laundering Act of 2025’’ or the 5
22	22	‘‘Stop CCP Money Laundering Act of 2025’’. 6
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25	25	•S 1339 IS
26	26	SEC. 2. MEASURES TO ADDRESS MONEY LAUNDERING AND 1
27	27	EXPORT CONTROL AND SANCTIONS VIOLA-2
28	28	TIONS IN HONG KONG. 3
29	29	(a) D
30	30	ETERMINATION WITHRESPECT TOMONEY 4
31	31	L
32	32	AUNDERING.—Not later than 180 days after the date of 5
33	33	the enactment of this Act, the Secretary of the Treasury 6
34	34	shall submit to the appropriate congressional committees 7
35	35	a determination, including a detailed justification, of 8
36	36	whether reasonable grounds exist for designating the 9
37	37	Hong Kong Special Administrative Region of the People’s 10
38	38	Republic of China as a jurisdiction of primary money laun-11
39	39	dering concern under section 5318A of title 31, United 12
40	40	States Code. 13
41	41	(b) R
42	42	EPORT ONROLE OFHONGKONG INEXPORT 14
43	43	C
44	44	ONTROL ANDSANCTIONSVIOLATIONS.— 15
45	45	(1) I
46	46	N GENERAL.—Not later than 360 days 16
47	47	after the date of the enactment of this Act, the Sec-17
48	48	retary of State, in coordination with the Secretary of 18
49	49	the Treasury and the Secretary of Commerce, shall 19
50	50	submit to the appropriate congressional committees 20
51	51	a report assessing the ability of United States and 21
52	52	foreign financial institutions operating in Hong 22
53	53	Kong to identify and prevent transactions that facili-23
54	54	tate the transfer of products, technology, and money 24
55	55	to the Russian Federation, Iran, and other countries 25
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58	58	•S 1339 IS
59	59	and entities in violation of export controls and sanc-1
60	60	tions imposed by the United States. 2
61	61	(2) E
62	62	LEMENTS.—The report required by para-3
63	63	graph (1) shall include— 4
64	64	(A) an evaluation of the extent of the role 5
65	65	of Hong Kong as an international financial and 6
66	66	trading center in facilitating, knowingly or un-7
67	67	knowingly— 8
68	68	(i) the transfer of products and tech-9
69	69	nologies to adversaries of the United 10
70	70	States, including the Russian Federation, 11
71	71	Iran, the mainland of the People’s Repub-12
72	72	lic of China, and other countries in viola-13
73	73	tion of export controls imposed by the 14
74	74	United States; and 15
75	75	(ii) trade and financial transactions 16
76	76	that violate sanctions imposed by the 17
77	77	United States on the Russian Federation, 18
78	78	Iran, and other countries and entities; 19
79	79	(B) an assessment of whether the People’s 20
80	80	Republic of China’s 2020 National Security 21
81	81	Law and the January 2024 Safeguarding Na-22
82	82	tional Security Ordinance of Hong Kong have 23
83	83	limited the ability of financial institutions oper-24
84	84	ating in Hong Kong to adhere to global stand-25
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87	87	•S 1339 IS
88	88	ards for anti-money laundering and know-your- 1
89	89	customer procedures; and 2
90	90	(C) a description of cooperation between 3
91	91	Hong Kong and United States authorities in 4
92	92	enforcing export control and sanctions regimes, 5
93	93	including any challenges to such cooperation. 6
94	94	(c) A
95	95	PPROPRIATECONGRESSIONALCOMMITTEESDE-7
96	96	FINED.—In this section, the term ‘‘appropriate congres-8
97	97	sional committees’’ means— 9
98	98	(1) the Committee on Foreign Relations and 10
99	99	the Committee on Banking, Housing, and Urban Af-11
100	100	fairs of the Senate; and 12
101	101	(2) the Committee on Foreign Affairs and the 13
102	102	Committee on Financial Services of the House of 14
103	103	Representatives. 15
104	104	Æ
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