CONGRESS FOR VOTERS

RepublicanBill · S. 4601· Senate(119-S-4601)

Chinese CBDC Prohibition Act of 2026

Rep. Scott
Age: 74 years
Florida
Introduced
5/20/2026
Last activity
5/20/2026 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsored by
Rick Scott
Cosponsors
Republican - 1Democrat - 0
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the "Chinese CBDC Prohibition Act of 2026," aims to restrict specific financial activities. It would prohibit money services businesses from participating in any transaction that involves a central bank digital currency issued by the People's Republic of China. This restriction applies to transactions whether they are conducted directly or indirectly. The act proposes adding a new section to the United States Code to implement this rule.

Yes· 3 of 4

  • Does this give people more protection from unfair business practices?+1

    The bill restricts the use of a specific foreign digital currency within the domestic financial ecosystem.

  • Does this give people more control over their personal data?+1

    By limiting transactions involving a foreign state-issued digital currency, the bill may reduce potential digital surveillance risks.

  • Does this give the federal government more power?+1

    The bill expands federal regulatory authority over money services businesses regarding foreign digital assets.

The opposite

  • Would business owners be better off under this?-1

    Money services businesses face new operational restrictions and may face increased compliance burdens.