Political Quotes

“I rise in support of my bipartisan bill, H.R. 1450, the OFAC, Licensure for Investigators Act, which I am very proud to co-lead with my colleague, the gentleman from Iowa (Mr. Nunn). This bill requires the Secretary of the Treasury to develop a special licensing pilot program within the Office of Terrorism and Financial Intelligence, and it will be administered by the Office of Foreign Assets Control. This pilot project would grant private-sector firms a temporary specific license to conduct nominal financial transactions with sanctioned entities to assist with law enforcement investigations. These private firms would be, for example, blockchain analytics firms or the financial intelligence units within corresponding banks. The commonsense legislation seeks to enhance the tools at our disposal to investigate sanctioned individuals and entities and to hold bad actors accountable, and that is very important. This concept is similar to a keep-open letter, which is when the government asks a bank to keep a suspicious illicit account open.”