S. 4858 aims to enforce sanctions on financial institutions in countries considered concerning if they engage in transactions through certain payment systems with other similar institutions. The President is mandated to block and prohibit property transactions in the U.S. for...
Simple Explanation
Imagine there are some countries doing things that could be troublesome, and this bill wants to make sure that banks from these countries can't use certain ways to move money easily in the U.S. If banks from a concerning country do this, then they could get in big trouble, like having their money frozen or not being able to visit America.