,,ii  #aahth ,,congress  #ast ,session  
,s4 #cbdh  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,november #h1  
#bjbc,mr4 ,scott of ,florida 7for       
himself1 ,mr4 ,cruz1 and ,mrs4          
,blackburn7 introduced the following    
bill2 which was read twice and referred 
to the ,committee on ,banking1 ,housing1
 and ,urban ,affairs  ,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 the ,people's ,republic of ,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 will      
provide the ,chinese ,communist ,party  
with data on its users1 and bolster the 
social credit program of the ,party1    
ultimately furthering the punitive      
control power of the ,party over        
,chinese citizens4  7#b7 ,on ,april #bh1
 #bjba1 ,jerome ,powell1 ,chairman of   
the ,board of ,governors of the ,federal
 ,reserve ,system1 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 time44  7#c7 ,according to ,sir 
,jeremy ,fleming1 ,director of the      
,government ,communications             
,headquarters of the ,united ,kingdom1  
,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 ,russia44  #c4 ,money services
 businesses  7a7 ,in general ,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        
,definition ,in this section1 the term  
money services business has the meaning 
given the term in section #ajaj4ajj of  
title #ca1 ,code of ,federal            
,regulations4  7b7 ,transactions        
involving digital currency of the       
,people's ,republic of ,china ,no money 
services business may engage in any     
transaction1 directly or indirectly1    
that involves a central bank digital    
currency issued by the ,people's        

,republic of ,china4  4  7b7 ,technical 
and conforming amendment ,the table of  
sections for subchapter ,,ii of chapter 
#ec of title #ca1 ,united ,states ,code1
 is amended by adding at the end the    
following3  #eccg4 ,money services      
businesses4  4