,i  #aahth ,,congress  #ast ,session    
,h4 ,r4 #hjd  ,,in ,,the ,,house ,,of   
,,representatives  ,february #b1        
#bjbc,mr4 ,luetkemeyer introduced the   
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to prohibit money services  
businesses from engaging in any         
transaction that involves a central bank
 digital currency issued by the         
,people's ,republic of ,china1 and for  
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,chinese ,,cbdc
 ,prohibition ,act of #bjbc4  #b4       
,findings ,congress finds the following3
 7#a7 ,in #bjba testimony before the    
,house ,committee on ,financial         
,services1 ,yaya ,fanusie1 ,adjunct     
,senior ,fellow at the ,center for a    
,new ,american ,security1 noted that    
,china is pushing aggressively to become
 a global leader in financial           
technology1 and the ,people's ,republic 
of ,china is in a position to launch the
 largest digital currency project of any

 major economy4 ,additionally1 the      
,chinese central bank digital currency  
7,,cbdc7 will provide the ,chinese      
,communist ,party 7,,ccp7 with data on  
its users1 and bolster the ,,ccp's      
social credit program1 ultimately       
furthering the ,party's punitive control
 power over ,chinese citizens4  7#b7 ,on
 ,april #bh1 #bjba1 ,federal ,reserve   
,chairman ,jerome ,powell stated1 ,the  
digital currency that is being used in  
,china is not one that would work here4 
,it's one that really allows the        
government to see every payment for     
which it is used in real time4  7#c7    
,according to ,sir ,jeremy ,fleming1    
,director of the ,united ,kingdom's     
,government ,communications             
,headquarters1 ,control is also a major 
driver for ,beijing as it seeks to build
 a centralized digital currency4 ,yes1  
it introduces efficiencies and new ways 
of settling payments4 ,but the way it's 
being implemented allows the monitoring 
of citizens and it forces companies to  

use the service4 ,it might1 in future1  
also enable ,china to partially evade   
the sorts of international sanctions    
currently being applied to ,putin's     
regime in ,russia4  #c4 ,money ,services
 ,businesses ,subchapter ,,ii of chapter
 #ec of title #ca1 ,united ,states      
,code1 is amended by adding at the end  
the following3  #eccg4 ,money ,services 
,businesses  7a7 ,transactions involving
 digital currency of the ,people's      
,republic of ,china ,each money services
 business is prohibited from engaging in
 any transaction1 directly or           
indirectly1 that involves a central bank
 digital currency issued by the         
,people's ,republic of ,china4  7b7     
,definitions ,the term money services   
business has the meaning given the term 
in section #ajaj4ajj7;ff7 of title #ca1 
,code of ,federal ,regulations4  4