Text: S.582 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in Senate (02/27/2019)

 
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 582 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                 S. 582

  To ensure that the Financial Crimes Enforcement Network works with 
    Tribal law enforcement agencies, protects against all forms of 
             terrorism, and focuses on virtual currencies.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 27, 2019

Ms. Cortez Masto (for herself, Mr. Cassidy, Ms. Sinema, and Mr. Moran) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To ensure that the Financial Crimes Enforcement Network works with 
    Tribal law enforcement agencies, protects against all forms of 
             terrorism, and focuses on virtual currencies.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``FinCEN Improvement Act of 2019''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) The mission of the Financial Crimes Enforcement Network 
        (referred to in this Act as ``FinCEN'') is to safeguard the 
        financial system from illicit use, combat money laundering, and 
        promote national security through the collection, analysis, and 
        dissemination of financial intelligence and strategic use of 
        financial authorities.
            (2) In its mission to safeguard the financial system from 
        the abuses of financial crime, including terrorist financing, 
        money laundering, and other illicit activity, the United States 
        should prioritize working with partners in Federal, State, 
        local, Tribal, and foreign law enforcement authorities.
            (3) The Federal Bureau of Investigation has stated that, 
        since the terror attacks on September 11, 2001, ``The threat 
        landscape has expanded considerably, though it is important to 
        note that the more traditional threat posed by al Qaeda and its 
        affiliates is still present and active. The threat of domestic 
        terrorism also remains persistent overall, with actors crossing 
        the line from First Amendment protected rights to committing 
        crimes to further their political agenda.''.
            (4) Although the use and trading of virtual currencies are 
        legal practices, some terrorists and criminals, including 
        international criminal organizations, seek to exploit 
        vulnerabilities in the global financial system and are 
        increasingly using emerging payment methods such as virtual 
        currencies to move illicit funds.
            (5) In carrying out its mission, FinCEN should prioritize 
        all forms of terrorism and emerging methods of terrorism and 
        illicit finance.

SEC. 3. STRENGTHENING FINCEN.

    Section 310(b)(2) of title 31, United States Code, is amended--
            (1) in subparagraph (C)--
                    (A) in clause (i), by inserting ``Tribal,'' after 
                ``local,''; and
                    (B) in clause (vi), by striking ``international'';
            (2) in subparagraph (E), by striking ``local,'' and 
        inserting ``local, Tribal,'';
            (3) in subparagraph (F), by striking ``Federal, State, 
        local, and foreign law enforcement'' and inserting ``Federal, 
        State, local, Tribal, and foreign law enforcement''; and
            (4) in subparagraph (H), by inserting ``, including matters 
        involving emerging technologies or value that substitutes for 
        currency'' after ``initiatives''.
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