Chinese CBDC Prohibition Act of 2023

This bill prohibits U.S. money services businesses from engaging in any transaction involving China’s central bank digital currency (CBDC). It directly affects U.S. financial institutions, fintech companies, and payment processors operating under U.S. law. The key provision bans all direct or indirect handling of China’s CBDC, including processing payments or facilitating transfers. The law amends federal code to explicitly define and restrict these transactions, without altering existing sanctions or surveillance policies. It focuses solely on preventing U.S. entities from enabling China’s digital currency system.