U.S. lawmakers are considering drafting new legislation that would mandate a ban on Chinese financial institutions with ties to blacklisted entities in North Korea ahead of the country's expected test of an intercontinental ballistic missile.
U.S. officials on Tuesday disclosed their intent to blacklist North Korea as a "primary money laundering concern" under the Patriot Act, citing ties between the country's financial system and nuclear weapons program.
The U.S. Senate on Wednesday unanimously approved legislation that would require the White House to determine whether North Korea should be blacklisted under the Patriot Act.
The U.S. House of Representatives on Tuesday forwarded legislation to the Senate targeting North Korea's access to currency and foreign exchange services in response to the country's latest test of a nuclear weapon.
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