This bill prohibits money services businesses in the United States from conducting any transactions involving China's central bank digital currency. The legislation applies to a broad range of financial entities defined as money services businesses under federal regulations, including money transmitters, currency exchanges, and similar operations. The bill contains no specified funding, implementation timeline, or enforcement mechanism details beyond the prohibition itself. The measure was introduced in the Senate in May 2026 and referred to the Committee on Banking, Housing, and Urban Affairs for consideration. The intent appears to be preventing U.S. financial intermediaries from facilitating transactions in China's digital currency to protect American financial interests and reduce economic dependence on Chinese monetary systems.
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