Sec. 1. Short title; table of contents

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This Act may be cited as the . Blocking Iran Illicit Finance Act The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. TITLE I—Strengthening existing sanctions with respect to Iran to account for all sanctionable activity, including human rights abuses Sec. 101. Findings. Sec. 102. Expansion of prohibitions on correspondent accounts or payable-through accounts for foreign financial institutions that facilitate transactions or provide financial services for certain Iranian financial institutions.

Sec. 103. Expansion of sanctions with respect to persons knowingly and directly providing specialized financial messaging services to, or enabling or facilitating direct or indirect access to such messaging services for, the Central Bank of Iran, other designated Iranian banks, or Iranian financial institutions removed from the list of specially designated persons pursuant to the implementation of the Joint Comprehensive Plan of Action. TITLE II—New sanctions authorities with respect to Iranian banks Sec. 201.

Findings. Sec. 202. Issuance of final rule regarding application of special measures with respect to Iran in connection with designation as jurisdiction of primary money laundering concern. Sec. 203. Imposition of sanctions with respect to financial sector of Iran. Sec. 204. Authorization of imposition of terrorism-related sanctions with respect to Iranian financial institutions. TITLE III—Sanctions with respect to the development and use of Iranian digital currency Sec. 301.

Definitions. Sec. 302. Findings. Sec. 303. Prohibition on transactions related to, provision of financing for, and other dealings in Iranian digital currency. Sec. 304. Sanctions with respect to foreign persons that engage in significant transactions for the sale, supply, or transfer to Iran of significant goods or services used in connection with the development of Iranian digital currency. Sec. 305. Sanctions with respect to foreign persons that conduct or facilitate significant transactions related to the purchase or sale of Iranian digital currency or maintain significant amounts in Iranian digital currency.

Sec. 306. Report on progress of Government of Iran in creating a sovereign cryptocurrency.