President Trump issued two separate Executive Orders to "address the threat" created by the U.S. operations of two social media applications, TikTok and WeChat. In addition, OFAC designated Hong Kong Chief Executive Carrie Lam, among other officials, to its Specially Designated Nationals and Blocked Persons List.
President Trump's threatened Executive Order "banning" social media application TikTok prompted Microsoft to announce that it would "continue discussions to explore a purchase of TikTok in the United States."
The Treasury Department issued an interim final rule that "establishes a fee for parties filing a formal written notice of a transaction for review by the Committee on Foreign Investment in the United States.”
The Congressional Research Service provided an overview of the current authority of the Committee on Foreign Investment in the United States following the recent implementation of the Foreign Investment Risk Review Modernization Act.
U.S. Treasury Deputy Secretary Justin Muzinich highlighted developments in housing finance reform, Committee on Foreign Investment in the United States reform, digital taxation, and cryptocurrency policy.
In a new report issued by the Center for Financial Stability, Senior Fellow Charles G. Schott highlighted the impact of the Foreign Investment Risk Review Modernization Act on the Committee on Foreign Investment in the United States.
The U.S. Department of the Treasury issued temporary regulations to implement the Foreign Investment Risk Review Modernization Act including a pilot program to protect American technology and intellectual property.
Senators from the Committee on Agriculture sent a letter urging the Treasury Secretary to begin a review of a Brazil-based meat processing and distribution company's planned acquisition of a Missouri-based beef processing company.
Members of the House Subcommittee on Monetary Policy and Trade considered testimony on proposed legislation to expand the jurisdiction, and update the operations, of the Committee on Foreign Investment in the United States.
A House Subcommittee reviewed the operations of the Committee on Foreign Investment in the United States. Newly introduced legislation would broaden the range of transactions that are subject to review, blocking, or unwinding by CFIUS.