Stop Fentanyl Money Laundering Act of 2025
3/22/2025, 8:05 AMSummary of Bill HR 1577
Bill 119 hr 1577, also known as the Illicit Fentanyl and Narcotics Financing Act, grants the Secretary of the Treasury the power to implement special measures against foreign entities that are deemed to be of primary concern for money laundering related to illicit fentanyl and narcotics. The purpose of this bill is to combat the financing of illegal drugs, particularly fentanyl, which has been a major contributor to the opioid crisis in the United States.The bill allows the Secretary of the Treasury to take various actions against these entities, such as imposing restrictions on their access to the US financial system or prohibiting certain types of transactions with them. These measures are intended to disrupt the flow of funds that support the production and distribution of illicit drugs, ultimately aiming to reduce the availability of these dangerous substances in the US.
Overall, the Illicit Fentanyl and Narcotics Financing Act seeks to address the issue of money laundering in connection with the illicit drug trade, with a specific focus on fentanyl and other narcotics. By targeting foreign entities involved in these activities, the bill aims to protect public health and safety by cutting off the financial support for the illegal drug market.
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Current Status of Bill HR 1577
Bill HR 1577 is currently in the status of Bill Introduced since February 25, 2025. Bill HR 1577 was introduced during Congress 119 and was introduced to the House on February 25, 2025. Bill HR 1577's most recent activity was Placed on the Union Calendar, Calendar No. 12. as of March 21, 2025Bipartisan Support of Bill HR 1577
Total Number of Sponsors
7Democrat Sponsors
0Republican Sponsors
7Unaffiliated Sponsors
0Total Number of Cosponsors
15Democrat Cosponsors
2Republican Cosponsors
13Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1577
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
AsiaChinaCivil actions and liabilityCongressional oversightCurrencyDrug trafficking and controlled substancesFraud offenses and financial crimesGovernment studies and investigationsInternational monetary system and foreign exchangeLatin AmericaMexicoOrganized crimeTerrorismAlternate Title(s) of Bill HR 1577
To provide authority to the Secretary of the Treasury to take special measures against certain entities outside of the United States of primary money laundering concern in connection with illicit fentanyl and narcotics financing, and for other purposes.To provide authority to the Secretary of the Treasury to take special measures against certain entities outside of the United States of primary money laundering concern in connection with illicit fentanyl and narcotics financing, and for other purposes.Comments
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Sponsors and Cosponsors of HR 1577
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