COINS Act of 2024
The COINS Act of 2024 establishes new restrictions on U.S. investments in Chinese companies linked to China's military or surveillance sectors. It prohibits U.S. persons from engaging in "covered national security transactions" with entities determined to be "covered foreign persons" (including Chinese companies with military connections) and requires mandatory notifications for certain investments. The bill creates a "Non-SDN Chinese Military-Industrial Complex Companies List" and imposes civil penalties of up to $250,000 or twice the transaction value for violations. It mandates annual reports to Congress on enforcement actions and potential updates to the list of restricted companies. The law aims to limit U.S. financial support for Chinese entities that could threaten U.S. national security through advanced technology development.
Bill status
in committee
1 of 4 stages cleared
Introduction
Dec 2024
Committee Review
Floor Vote
President
Introduced Dec 24, 2024
Last action Dec 24, 2024
Floor votes
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Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Dec 24, 2024
Committee
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
Dec 24, 2024
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor
Sponsors
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