Bill > HR3506

This bill, the 21st Century Dollar Act, aims to support the role of the United States dollar as the primary global reserve currency. It establishes a policy for the U.S. to facilitate the dollar's position, including through promoting deep and transparent financial markets, improving domestic and international payment methods, maintaining sound macroeconomic governance and a rules-based international trade system, and establishing clear objectives for financial restrictions related to national security. The bill requires the Secretary of the Treasury to develop and report on a strategy to implement this policy, including assessing risks posed by the development of official digital currencies by major foreign central banks, such as the People's Bank of China. The report must also evaluate the role of the Chinese renminbi in international payments and recommend policy options to mitigate risks to U.S. national interests. This reporting requirement expires after 7 years.

Business and Industry

https://www.congress.gov/bill/117th-congress/house-bill/3506/all-info