S4601Referred to Committee

Chinese CBDC Prohibition Act of 2026

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-05-20
Introduced
1
Cosponsors
S
ⓘ
Type

Sponsor

Rick Scott
Rick Scott
Republican · FL · Senator
Votes with party: 74.3% (888 recorded votes)
Top industries funding sponsor:
  • Conservative Groups$380k

Full profile: /officials/S001217

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2026-05-20

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

Money services businesses like payment processors and money transfer companies would be banned from handling transactions involving China's digital currency, which is a government-controlled electronic form of money. The law aims to prevent U.S. financial companies from facilitating the use of this Chinese digital currency within American commerce. This would affect banks, payment apps, and other financial service providers that currently process international transactions.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Finance and Financial Sector

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4601 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4601 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. _______________________________________________________________________ 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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