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Strategy to Strengthen the Dollar's Global Role and Analyze Digital Currencies

This Act mandates the U.S. government to develop and implement a strategy aimed at maintaining the dollar's dominant position in global trade and finance. While it does not introduce direct changes to personal finances, its goal is to ensure long-term economic stability, indirectly protecting citizens' purchasing power. A key component is the required analysis of threats posed by foreign digital currencies, including China's, and the status of a potential U.S. digital dollar.
Key points
The U.S. government must establish a plan to ensure the dollar remains the world's primary reserve currency, supporting national economic stability.
Annual reports are required on the progress of foreign digital currencies (like China's) and an assessment of risks to U.S. national security.
The Treasury Secretary must evaluate the role of the Chinese currency (renminbi) in global finance and recommend policy options to mitigate risks.
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Expired
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Additional Information
Print number: 118_HR_556
Sponsor: Rep. Hill, J. French [R-AR-2]
Process start date: 2023-01-26
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OFFICIAL LEGAL TITLE

21st Century Dollar Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_556.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-01-26.

What are the main provisions?

Key points include:

  • The U.S. government must establish a plan to ensure the dollar remains the world's primary reserve currency, supporting national economic stability.
  • Annual reports are required on the progress of foreign digital currencies (like China's) and an assessment of risks to U.S. national security.
  • The Treasury Secretary must evaluate the role of the Chinese currency (renminbi) in global finance and recommend policy options to mitigate risks.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Hill, J. French [R-AR-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy Security