I 
117TH CONGRESS 
2D SESSION 
H. R. 8001 
To amend title 31, United States Code, to ensure the United States currency 
market does not support egregious human rights violations. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 9, 2022 
Mr. BUCK (for himself, Mr. GOODEN of Texas, Mr. BANKS, Ms. HERRELL, 
Mr. HERN, Mr. LONG, Mr. STEUBE, Mr. WILSON of South Carolina, Mr. 
CAWTHORN, Mr. BURCHETT, and Mr. TORRES of New York) introduced 
the following bill; which was referred to the Committee on Financial Serv-
ices, and in addition to the Committee on Foreign Affairs, for a period 
to be subsequently determined by the Speaker, in each case for consider-
ation of such provisions as fall within the jurisdiction of the committee 
concerned 
A BILL 
To amend title 31, United States Code, to ensure the United 
States currency market does not support egregious 
human rights violations. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Countering Atrocities 
through Currency Accountability Act of 2022’’. 
SEC. 2. FINDINGS. 
Congress finds the following: 
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(1) The United States dollar composes nearly 
two-thirds of the world’s currency reserves, with 
more than one trillion dollars being owned by the 
Government of China as of October 2020. 
(2) It is the policy of the United States to ad-
vance freedom and human rights globally, a policy 
that is incompatible with egregious human rights 
violations, and as such has a responsibility to ensure 
that the United States currency market does not 
complicitly support perpetrators of these abuses. 
(3) In regions of the world where political, gov-
ernmental, or other realities preclude humanitarian 
due diligence practices from ensuring the currency 
market of the United States is not interwoven with 
entities’ egregious human rights violations, addi-
tional measures must be taken to separate the econ-
omy of the United States from these violations, as 
well as to apply pressure on relevant actors to up-
hold their humanitarian responsibilities. 
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SEC. 3. SPECIAL MEASURES FOR JURISDICTIONS, FINAN-
CIAL 
INSTITUTIONS, 
OR 
INTERNATIONAL 
TRANSACTIONS OF PRIMARY HUMANITARIAN 
CONCERN. 
(a) IN GENERAL.—Chapter 53 of title 31, United 
States Code, is amended by inserting after section 5318A 
the following: 
‘‘§ 5318B. Special measures for jurisdictions, financial 
institutions, or international transactions 
of primary humanitarian concern 
‘‘(a) INTERNATIONAL
HUMANITARIAN
REQUIRE-
MENTS.— 
‘‘(1) IN
GENERAL.—The Secretary of the 
Treasury shall require domestic financial institutions 
and domestic financial agencies to take 1 or more of 
the special measures described in subsection (b) if 
the Secretary finds that reasonable grounds exist for 
concluding that a jurisdiction outside of the United 
States, 1 or more financial institutions operating 
outside of the United States, 1 or more classes of 
transactions within, or involving, a jurisdiction out-
side of the United States, or 1 or more types of ac-
counts is of primary humanitarian concern, in ac-
cordance with subsection (c). 
‘‘(2) FORM
OF
REQUIREMENT.—The special 
measures described in— 
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‘‘(A) subsection (b) shall be imposed in 
such sequence or combination as the Secretary 
shall determine; and 
‘‘(B) paragraphs (1) through (5) of sub-
section (b) shall be imposed by regulation, 
order, or otherwise as permitted by law. 
‘‘(3) DURATION
OF
ORDERS; RULEMAKING.— 
Any order by which a special measure described in 
paragraphs (1) through (5) of subsection (b) is im-
posed— 
‘‘(A) shall be issued together with a notice 
of proposed rulemaking relating to the imposi-
tion of such special measure; and 
‘‘(B) may not be terminated unless the 
Secretary— 
‘‘(i) certifies to Congress that the ap-
plicable jurisdiction, financial institution, 
class of transaction, or type of account is 
no longer of primary humanitarian con-
cern; and 
‘‘(ii) not more than 30 days before the 
date of such termination, notifies, in writ-
ing, the Committees on Financial Services 
and Foreign Affairs of the House of Rep-
resentatives and the Committees on Bank-
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ing, Housing, and Urban Affairs and For-
eign Relations of the Senate of such termi-
nation. 
‘‘(4) NATIONAL SECURITY WAIVER.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
waive the application of any special measure re-
quired by the Secretary under paragraph (1) 
with respect to a transaction related to the pro-
duction, manufacture, or commerce related to 
rare earth minerals if the Secretary determines 
such waiver is necessary on national security 
grounds. 
‘‘(B) TIME LIMIT.—A waiver issued under 
subparagraph (A) may not be for longer than 
one year, but such a waiver may be renewed. 
‘‘(C) WRITTEN
JUSTIFICATION.—If the 
Secretary issues (or renews) a waiver under this 
paragraph, the Secretary shall provide the Com-
mittees on Financial Services and Foreign Af-
fairs of the House of Representatives and the 
Committees on Banking, Housing, and Urban 
Affairs and Foreign Relations of the Senate 
with a written justification for such waiver. 
Such justification shall be submitted in unclas-
sified form, but may include a classified annex. 
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‘‘(D) INFORMATION FOR THE PUBLIC.—If 
the Secretary issues a waiver under this para-
graph, the Secretary, in consultation with the 
Secretary of Commerce and the Secretary of 
the Interior, shall provide the following infor-
mation to the public, including on the website 
of the Department of the Treasury: 
‘‘(i) Opportunities for public-private 
partnerships to increase domestic produc-
tion of rare earth elements and inter-
mediate and finished products containing 
rare earth elements, including permanent 
magnets. 
‘‘(ii) Information regarding the rela-
tionship between the reason the applicable 
jurisdiction, financial institution, class of 
transaction, or type of account was found 
to be of primary humanitarian concern and 
the production, manufacture, or commerce 
related to rare earth minerals. 
‘‘(5) NO LIMITATION ON OTHER AUTHORITY.— 
This section shall not be construed as superseding or 
otherwise restricting any other authority granted to 
the Secretary, or to any other agency, by this sub-
chapter or otherwise. 
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‘‘(b) SPECIAL MEASURES.—The special measures re-
ferred to in subsection (a), with respect to a jurisdiction 
outside of the United States, financial institution oper-
ating outside of the United States, class of transaction 
within, or involving, a jurisdiction outside of the United 
States, or 1 or more types of accounts are as follows: 
‘‘(1) RECORDKEEPING
AND
REPORTING
OF 
CERTAIN FINANCIAL TRANSACTIONS.— 
‘‘(A) IN GENERAL.—The Secretary of the 
Treasury may require any domestic financial in-
stitution or domestic financial agency to main-
tain records, file reports, or both, concerning 
the aggregate amount of transactions, or con-
cerning each transaction, with respect to a ju-
risdiction outside of the United States, 1 or 
more financial institutions operating outside of 
the United States, 1 or more classes of trans-
actions within, or involving, a jurisdiction out-
side of the United States, or 1 or more types 
of accounts if the Secretary finds any such ju-
risdiction, institution, class of transactions, or 
type of account to be of primary humanitarian 
concern. 
‘‘(B) FORM OF RECORDS AND REPORTS.— 
Such records and reports shall be made and re-
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tained at such time, in such manner, and for 
such period of time, as the Secretary shall de-
termine, and shall include such information as 
the Secretary may determine, including— 
‘‘(i) the identity and address of the 
participants in a transaction or relation-
ship, including the identity of the origi-
nator of any funds transfer; 
‘‘(ii) the legal capacity in which a par-
ticipant in any transaction is acting; 
‘‘(iii) the identity of the beneficial 
owner of the funds involved in any trans-
action, in accordance with such procedures 
as the Secretary determines to be reason-
able and practicable to obtain and retain 
the information; and 
‘‘(iv) a description of any transaction. 
‘‘(2) INFORMATION RELATING TO BENEFICIAL 
OWNERSHIP.—In addition to any other requirement 
under any other provision of law, the Secretary shall 
require any domestic financial institution or domes-
tic financial agency to take such steps as the Sec-
retary may determine to be reasonable and prac-
ticable to obtain and retain information concerning 
the beneficial ownership of any account opened or 
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