Defending Americans from Authoritarian Digital Currencies Act

Bill: 117-s-4313
Sponsor: full_name: Sen. Cotton, Tom [R-AR]
Introduced: 2022-05-25
Policy area: Commerce
Latest action: action_date: 2022-05-25
text: Read twice and referred to the Committee on Commerce, Science, and Transportation.

Summaries:
action_date: 2022-05-25
action_desc: Introduced in Senate
text: <p><b>Defending Americans from Authoritarian Digital Currencies Act</b></p> <p>This bill prohibits app stores in the United States from carrying or supporting any app that allows transactions using the Chinese government's Digital Currency Electronic Payment system (e-CNY). App stores also may not support or enable transactions in e-CNY in their app stores.</p>

tv_txt: II 117th CONGRESS 2d Session S. 4313 IN THE SENATE OF THE UNITED STATES May 25, 2022 Mr. Cotton (for himself, Mr. Braun , and Mr. Rubio ) introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation A BILL To prohibit the use of the digital currency payment system operated by the Government of the People’s Republic of China, and for other purposes.

1. Short title This Act may be cited as the Defending Americans from Authoritarian Digital Currencies Act . 2. Prohibition on apps supporting e-CNY financial technology in the United States (a) Definitions In this section: (1) App The term app means a software application or electronic service that may be run or directed by a user on a computer, a mobile device, or any other general purpose computing device. (2) App store The term app store means a publicly available website, software application, or other electronic service that distributes applications from third-party developers to users of a computer, a mobile device, or any other general purpose computing device. (3) Covered company The term covered company means any person that owns or controls an app store in the United States. (4) e-CNY The term e-CNY means the official Digital Currency Electronic Payment system operated by the Government of the People’s Republic of China. (b) Prohibition A covered company shall not— (1) support or enable transactions in e-CNY on its app store within the United States; or (2) carry or support any app in its app store within the United States that supports or enables transactions in e-CNY.