,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #eacf  ,,in ,,the ,,house ,,of  
,,representatives  ,september #d1       
#bjbe,mr4 ,davidson introduced the      
following bill2 which was referred to   
the ,committee on ,foreign ,affairs1 and
 in addition to the ,committee on       
,financial ,services1 for a period to be
 subsequently determined by the         
,speaker1 in each case for consideration
 of such provisions as fall within the  
jurisdiction of the committee concerned 
,a ,,bill  ,to establish the ,office of 
,strategic ,currency ,diplomacy in the  
,department of ,state4  #a4 ,short title
  ,this ,act may be cited as the ,dollar
 ,dominance ,act of #bjbe4  #b4 ,office 
of ,strategic ,currency ,diplomacy  7a7 
,establishment ,there shall be in the   
,bureau for ,commercial ,diplomacy of   
the ,department of ,state an ,office of 
,strategic ,currency ,diplomacy1 which  
shall be responsible to the ,assistant  
,secretary for ,commercial ,diplomacy   
for all matters pertaining to-- 7#a7    

combatting efforts by strategic rivals  
and adversaries to undermine the use of 
the ,united ,states dollar as the       
world's reserve currency2  7#b7         
partnering with allies to ensure the    
strength and integrity of ,u4,s4-dollar 
denominated payment and financial       
systems2  7#c7 evaluating the           
implications of virtual assets for      
,united ,states foreign policy and      
national security2  7#d7 aligning       
,united ,states foreign policy1 and in  
particular the use of sanctions to      
advance foreign policy and national     
security objectives1 with national      
monetary security2  7#e7 where          
appropriate1 leading the coordination of
 programs carried out abroad by ,federal
 departments and agencies1 including the
 ,department of the ,treasury1 the      
,department of ,commerce1 and the       
,office of the ,director of ,national   
,intelligence1 that relate to the       
matters for which the ,office of        
,strategic ,currency ,diplomacy is      

responsible under this section2 and     
7#f7 such other related duties as the   
,assistant ,secretary for ,commercial   
,diplomacy may from time to time        
designate4  7b7 ,responsibilities ,in   
addition to being responsible for the   
matters described under subsection 7a71 
the ,office of ,strategic ,currency     
,diplomacy shall--  7#a7 serve as the   
principal advisor to the ,assistant     
,secretary for ,commercial ,diplomacy   
regarding the development and           
implementation of policies to prevent a 
reduction in the use of the ,united     
,states dollar as the primary reserve   
currency in international markets2  7#b7
 coordinate with the ,department of the 
,treasury1 the ,department of ,commerce1
 the ,office of the ,director of        
,national ,intelligence1 and other      
,federal departments and agencies to    
develop--  7,a7 strategic plans to      
protect the preeminence of the ,united  
,states dollar in international markets1
 with findings to be included in the    

,department of ,state's ,biannual       
,economic ,security ,report2 and  7,b7  
programs and policies that expand the   
percentage of--  7i7 central bank       
foreign currency holdings in ,united    
,states dollars2 and  7ii7 international
 transactions denominated in ,united    
,states dollars2  7#c7 act as the       
representative of the ,secretary to     
,federal departments and agencies in    
international engagements and bilateral 
and multilateral engagements related to 
expanding the use of virtual assets and 
virtual asset service providers         
7including ,united ,states dollar       
payment stable coins72  7#d7 monitor and
 develop strategies to counter the      
proliferation and adoption of ,central  
,bank ,digital ,currencies in other     
nations to protect the preeminence of   
the ,united ,states dollar and national 
economic security2 and  7#e7 perform    
each other related duty as the          
,assistant ,secretary for ,commercial   
,diplomacy may from time to time        

designate4