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S. 533: A bill to require the Secretary of the Treasury to consider certain transactions related to precious metals for purposes of identifying jurisdictions of primary money laundering concern, and for other purposes.

The text of the bill below is as of Feb 14, 2019 (Introduced).


II

116th CONGRESS

1st Session

S. 533

IN THE SENATE OF THE UNITED STATES

February 14, 2019

(for himself, Mr. Tillis, and Mr. Rubio) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To require the Secretary of the Treasury to consider certain transactions related to precious metals for purposes of identifying jurisdictions of primary money laundering concern, and for other purposes.

1.

Consideration of certain transactions involving precious metals for purposes of identifying jurisdictions of primary money laundering concern

Section 5318A(c)(2) of title 31, United States Code, is amended—

(1)

in subparagraph (A)—

(A)

by redesignating clauses (iii) through (vii) as clauses (iv) through (viii), respectively; and

(B)

by inserting after clause (ii) the following:

(iii)

the extent to which the jurisdiction or financial institutions operating in that jurisdiction facilitate transactions that are related to precious metals and are subject to being blocked pursuant to sanctions imposed by the United States under any statute or Executive order;

; and

(2)

in subparagraph (B)—

(A)

by redesignating clauses (ii) and (iii) as clauses (iii) and (iv), respectively; and

(B)

by inserting after clause (i) the following:

(iv)

the extent to which such financial institutions, transactions, or types of accounts are used to facilitate transactions that are related to precious metals and are subject to being blocked pursuant to sanctions imposed by the United States under any statute or Executive order;

.