[Congressional Record Volume 167, Number 199 (Tuesday, November 16, 2021)]
[Senate]
[Page S8286]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 4703. Mr. HAGERTY submitted an amendment intended to be proposed 
to amendment SA 3867 submitted by Mr. Reed and intended to be proposed 
to the bill H.R. 4350, to authorize appropriations for fiscal year 2022 
for military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

        At the end of subtitle E of title XII, add the following:

     SEC. 1253. STUDY ON THE CREATION OF AN OFFICIAL DIGITAL 
                   CURRENCY BY THE PEOPLE'S REPUBLIC OF CHINA.

       (a) In General.--Not later than one year after the date of 
     the enactment of this Act, the President shall submit to the 
     appropriate committees of Congress a report on the short-, 
     medium-, and long-term national security risks associated 
     with the creation and use of the official digital renminbi of 
     the People's Republic of China, including--
       (1) risks arising from potential surveillance of 
     transactions;
       (2) risks related to security and illicit finance; and
       (3) risks related to economic coercion and social control 
     by the People's Republic of China.
       (b) Form of Report.--The report required by subsection (a) 
     shall be submitted in unclassified form but may include a 
     classified annex.
       (c) Appropriate Committees of Congress Defined.--In this 
     section, the term ``appropriate committees of Congress'' 
     means--
       (1) the Committee on Banking, Housing, and Urban Affairs, 
     the Committee on Foreign Relations, the Committee on 
     Appropriations, and the Select Committee on Intelligence of 
     the Senate; and
       (2) the Committee on Financial Services, the Committee on 
     Foreign Affairs, the Committee on Appropriations, and the 
     Permanent Select Committee on Intelligence of the House of 
     Representatives.
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