119 S4601 IS: Chinese CBDC Prohibition Act of 2026 U.S. Senate 2026-05-20 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II119th CONGRESS2d SessionS. 4601IN THE SENATE OF THE UNITED STATESMay 20, 2026Mr. Scott of Florida introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban AffairsA BILLTo prohibit money services businesses from engaging in any transaction that involves a central bank digital currency issued by the People’s Republic of China, and for other purposes.

1.

Short title

This Act may be cited as the Chinese CBDC Prohibition Act of 2026.

2.

Money services businesses

(a)

In general

Subchapter II of chapter 53 of title 31, United States Code, is amended by adding at the end the following:

5337.

Money services businesses

(a)

Definition

In this section, the term money services business has the meaning given the term in section 1010.100 of title 31, Code of Federal Regulations.(b)

Transactions involving digital currency of the People's Republic of China

No money services business may engage in any transaction, directly or indirectly, that involves a central bank digital currency issued by the People’s Republic of China.

.(b)

Technical and conforming amendment

The table of sections for subchapter II of chapter 53 of title 31, United States Code, is amended by adding at the end the following:5337. Money services businesses..