S.Amdt. 1958

SA 1958. Mr. HAGERTY (for himself, Mr. Warner, Ms. Lummis, Mr. Coons,
Mrs. Blackburn, and Mr. Cramer) submitted an amendment intended to be
proposed to amendment SA 1502 proposed by Mr. Schumer to the bill S.
1260, to establish a new Directorate for Technology and Innovation in
the National Science Foundation, to establish a regional technology hub
program, to require a strategy and report on economic security,
science, research, innovation, manufacturing, and job creation, to
establish a critical supply chain resiliency program, and for other
purposes; which was ordered to lie on the table; as follows:

At the end of subtitle C of title I of division C, add the
following:

SEC. 3124. STUDY ON THE CREATION OF AN OFFICIAL DIGITAL
CURRENCY BY THE PEOPLE'S REPUBLIC OF CHINA.

(a) In General.--Not later than one year after the date of
the enactment of this Act, the President shall submit to the
appropriate committees of Congress a report on the short-,
medium-, and long-term national security risks associated
with the creation and use of the official digital renminbi of
the People's Republic of China, including--
(1) risks arising from potential surveillance of
transactions;
(2) risks related to security and illicit finance; and
(3) risks related to economic coercion and social control
by the People's Republic of China.
(b) Form of Report.--The report required by subsection (a)
shall be submitted in unclassified form but may include a
classified annex.
(c) Appropriate Committees of Congress Defined.--In this
section, the term ``appropriate committees of Congress''
means--
(1) the Committee on Banking, Housing, and Urban Affairs,
the Committee on Foreign Relations, the Committee on
Appropriations, and the Select Committee on Intelligence of
the Senate; and
(2) the Committee on Financial Services, the Committee on
Foreign Affairs, the Committee on Appropriations, and the
Permanent Select Committee on Intelligence of the House of
Representatives.
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