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119-s-4601119th CongressWALLET

Chinese CBDC Prohibition Act of 2026

Sponsored By: Senator Scott, Rick [R-FL]

Introduced

Summary

Bans U.S. money services businesses from transacting in a central bank digital currency issued by the People's Republic of China. This bill adds section 5337 to Title 31 and ties the term "money services business" to the regulatory definition in 31 C.F.R. 1010.100. It forbids any direct or indirect transaction by a covered money services business that involves the PRC-issued CBDC. The text sets this substantive restriction but does not list exemptions, penalties, or enforcement mechanisms in the section.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

Ban on Chinese central bank digital currency

This bill would add a new federal rule and define "money services business" by reference to 31 C.F.R. 1010.100. If enacted, it would bar any money services business from doing any transaction, directly or indirectly, that uses a central bank digital currency issued by the People's Republic of China. The prohibition would take effect upon enactment and the text includes no exemptions or penalties in this section. Households could be affected if their payment provider stops supporting PRC CBDC, for example by reducing options for remittances or other cross-border payments.

Sponsors & CoSponsors

Sponsor

Scott, Rick [R-FL]

FL • R

Cosponsors

  • Sen. Cruz, Ted [R-TX]

    TX • R

    Sponsored 6/3/2026

Roll Call Votes

No roll call votes available for this bill.

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