,i  #aahth ,,congress  #ast ,session    
,h4 ,r4 #eef  ,,in ,,the ,,house ,,of   
,,representatives  ,january #bf1        
#bjbc,mr4 ,hill 7for himself and ,mr4   
,himes7 introduced the following bill2  
which was referred to the ,committee on 
,financial ,services  ,a ,,bill  ,to    
support the role of the ,united ,states 
dollar as the primary global reserve    
currency1 and for other purposes4  #a4  
,short title ,this ,act may be cited as 
the #bast ,century ,dollar ,act4  #b4   
,statement of ,united ,states policy    
regarding the dollar ,it is the policy  
of the ,united ,states to facilitate the
 position of the dollar as the primary  
global reserve currency1 including      
through vigorous support of-- 7#a7 deep1
 open1 and transparent financial        
markets2  7#b7 continuous improvements  
to domestic and international payment   
methods that facilitate dollar          
transactions2  7#c7 sound macroeconomic 
governance and a rules-based system of  
international trade2 and  7#d7 clear and

 realistic objectives in the deployment 
of financial restrictions arising from  
national security considerations4  #c4  
,report on dollar strategy  7a7 ,in     
general ,the ,secretary of the ,treasury
 7in this ,act referred to as the       
,secretary7 shall establish a strategy  
that implements the policy described in 
section #b4  7b7 ,consultation ,the     
,secretary shall1 as appropriate1       
consult with the ,board of ,governors of
 the ,federal ,reserve ,system when     
establishing the strategy pursuant to   
subsection 7a74  7c7 ,report ,not later 
than #ahj days after the date of the    
enactment of this section1 the          
,secretary shall submit to the          
,committee on ,financial ,services of   
the ,house of ,representatives and the  
,committee on ,banking1 ,housing1 and   
,urban ,affairs of the ,senate a report 
that describes-- 7#a7 the strategy      
established by the ,secretary pursuant  
to subsection 7a72  7#b7 key measures   
taken by the ,secretary to implement the

 strategy2  7#c7 any legislative        
recommendations that would strengthen   
the ability of the ,united ,states to   
advance the policy described in section 
#b2  7#d7 a description of efforts by   
major foreign central banks1 including  
the ,people's ,bank of ,china1 to create
 an official digital currency1 as well  
as any risks to the national interest of
 the ,united ,states posed by such      
efforts2  7#e7 the status of efforts to 
assess or develop an official ,united   
,states digital currency by the ,board  
of ,governors of the ,federal ,reserve  
,system2 and  7#f7 any implications for 
the strategy established by the         
,secretary pursuant to subsection 7a7   
arising from the relative state of      
development of an official digital      
currency by the ,united ,states and     
other nations1 including the ,people's  
,republic of ,china4  7d7 ,renminbi     
assessment ,the report described in     
subsection 7c7 shall-- 7#a7 evaluate the
 role of the renminbi in international  

payments and foreign exchange reserves2 
7#b7 assess currency-related policies in
 ,china1 including-- 7,a7 the provision 
of ,chinese government-backed assets2   
7,b7 the extension of credit abroad by  
the ,chinese government2 and  7,c7 the  
development of cross-border payment     
systems as tools to advance strategic   
objectives of the ,government of the    
,people's ,republic of ,china2 and  7#c7
 recommend policy options aimed at      
mitigating medium-term and long-term    
risks to the national interest of the   
,united ,states that may arise as a     
result of the internationalization of   
the renminbi4  7e7 ,annual updates      
,after submitting an initial report in  
accordance with subsection 7c71 the     
,secretary shall submit1 to the         
,committee on ,financial ,services of   
the ,house of ,representatives and the  
,committee on ,banking1 ,housing1 and   
,urban ,affairs of the ,senate1 an      
updated version of such report each     
year4  #d4 ,sunset ,section #c shall    

have no force or effect after the date  
that is #g years after the date of the  
enactment of this ,act4