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Chinese CBDC Prohibition Act of 2026
To 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.
Summary
This bill prohibits money services businesses in the United States from engaging in any transactions involving a central bank digital currency issued by the People's Republic of China. The prohibition applies to both direct and indirect transactions with the Chinese digital currency. Money services businesses include entities like money transmitters and currency exchanges as defined in federal regulations.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Scott, Rick [R-FL] (R-FL)
1 cosponsor
- Sen. Cruz, Ted [R-TX] (R-TX)
Actions (2)
- May 20, 2026 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- May 20, 2026 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
May 20, 2026
Mr. Scott of Florida introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, 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 China, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Chinese CBDC Prohibition Act of 2026”.
SEC. 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: “Sec. 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.”. <all>
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