The Trump administration is proposing changes to overhaul the EB-5 immigrant investor visa program, aiming to tighten oversight and expand anti-fraud enforcement powers, according to Newsweek.

The proposals also include eliminating paths that some foreign investors use to obtain green cards, Newsweek reported.

Other proposals include imposing new compliance requirements on regional investment centers, strengthening government scrutiny of funding sources, increasing monitoring of projects financed through the program, and providing immigration officials with broader authority to revoke benefits when fraud or national security concerns are identified.

The program allows people who generally invest at least $1 million in American businesses that create jobs to apply for lawful permanent residence.

Investors were initially able to qualify for the program if they preserved jobs at financially distressed companies rather than creating new employment opportunities.

But the Department of Homeland Security said the provision was used in less than 1% of petitions and said it did not align with the program's core objective of generating new employment, Newsweek reported.

The proposal also promises increased scrutiny on people who invest using cryptocurrency. DHS said investors must demonstrate their digital assets used for investments were lawfully acquired and transferred, according to Newsweek.

U.S. Citizenship and Immigration Services said investors may be required to provide evidence documenting account ownership, transaction histories, tax records, and the conversion of digital assets into investment capital, Newsweek reported. The proposed rules also include increased audits, site visits, and reporting requirements.

USCIS said these measures are intended to reduce fraud risk and ensure compliance with immigration and securities laws.

Nearly 10,000 people have visas through the EB-5 investor program, accounting for 7.1% of employment-based immigrant visas, Newsweek reported.