Senator Rick Scott has initiated a legislative proposal titled the Chinese CBDC Prohibition Act to prevent U.S. financial entities from processing transactions involving China's digital currency. The act seeks to extend this prohibition to include various financial service providers like post offices, remittance companies, and money services businesses.
Support for this measure is evident as Senators Marsha Blackburn and Ted Cruz have expressed their endorsement, highlighting the importance of safeguarding American financial information. Senator Blackburn emphasizes the need for protective measures within the financial sector against the Chinese Communist Party's Digital Yuan.
In a similar vein, Representative Blaine Luetkemeyer is advocating for the bill in the House. The introduction of this and other cryptocurrency-related
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First found on: U.S. Senators Propose Act to Ban Transactions with China's Digital Yuan
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