Stop CCP Money Laundering Act of 2025
Sens. Curtis and Merkley Introduce the Stop CCP Money Laundering Act
The Stop CCP Money Laundering Act of 2025 is currently in the early stages of the legislative process. It has been sent to the Senate Committee on Banking, Housing, and Urban Affairs for review. No further actions are scheduled at this time.
Legislative Progress
The bill has support from both parties, which is a strong sign for any foreign policy measure. However, it must still pass through the committee process and compete for time on the Senate floor.
Key Points
Impact Analysis
Personal Impact
U.S. small businesses that trade with Hong Kong-based partners could face increased compliance costs or banking complications if Hong Kong is eventually designated as a primary money laundering concern. This bill itself only mandates a study, but the findings could lead to future restrictions that make it harder or more expensive to do business through Hong Kong.
“whether reasonable grounds exist for designating the Hong Kong Special Administrative Region of the People's Republic of China as a jurisdiction of primary money laundering concern under section 5318A of title 31, United States Code.”
Milestones
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
3 articlesSenate Bill Seeks to Scrutinize Hong Kong's Role in Evading Export Controls, Sanctions
Sens. John Curtis, R-Utah, and Jeff Merkley, D-Ore., introduced a bill April 8 that would require the administration to write a report to Congress on Hong Kong's role in export control and sanctions evasion. The Stop CCP Money Laundering Act would direct Treasury to determine if HK is a jurisdiction of primary money laundering concern.
Expert Urges Passage of Stop CCP Money Laundering Act to Crack Down on Hong Kong
A Hong Kong expert told the House Select Committee on China that the U.S. should pass the Stop CCP Money Laundering Act to address the territory's role in sanctions evasion. The designation would require U.S. banks to gather detailed information on dollar transactions touching Hong Kong.
New Bills Target China on Forced Labor, Export Controls, Money Laundering
The Stop Corrupt Communist Party Money Laundering Act (S. 1339) would require the Treasury Department to determine if Hong Kong is a jurisdiction of primary money laundering concern and require a State Department report on whether financial institutions in HK can prevent illegal transfers to Russia and Iran.
Source Information
Document Type
Congressional Bill
Official Title
Stop CCP Money Laundering Act of 2025
Data Sources
Sponsor
Cosponsors
(2)Analysis generated by AI. Always verify with official sources.