Treasury Issues Proposed Rule to Implement Comprehensive Outbound Investment National Security Act

WASHINGTON– The U.S. Department of the Treasury (Treasury) today issued a Notice of Proposed Rulemaking (NPRM) to propose updates to the Outbound Investment Security Program (OISP) based on direction from Congress in the Comprehensive Outbound Investment Security (COINS) Act, passed as part of the Fiscal Year 2026 National Defense Authorization Act. The COINS Act codifies the U.S. Government’s approach to regulating certain outbound investments by U.S. persons and builds upon Treasury’s existing OISP. In passing the COINS Act, Congress made clear that restricting certain U.S. outbound investments into dual-use strategic technologies that benefit a foreign adversary’s military modernization efforts, surveillance states, and human rights abuses is necessary to prevent harm to U.S. national security and foreign policy interests.