The COINS Act codifies the Outbound Program, with an expansion in scope. Further regulatory changes can be expected in implementing regulations, and the COINS Act creates a process for receiving feedback from Treasury about proposed investments.
On December 18, 2025, President Trump signed into law the FY 2026 National Defense Authorization Act (NDAA), which includes the Comprehensive Outbound Investment National Security Act of 2025 (COINS Act). The COINS Act codifies restrictions on US outbound investment in certain sensitive technologies and signals bipartisan support for outbound investment screening as a permanent fixture of the US national security regulatory regime.
