Alex Mooney: “This Administration, frankly, has a habit of circumventing the traditional rulemaking process.”

This is bad for jobs. It is bad for the strength of the dollar. It is bad for our status as a reserve currency.

I introduced H.R. 804, the Chinese CBDC Prohibition Act of 2023. This bill prohibits U.S. money services businesses from engaging in transactions involving a central bank digital currency issued by China.

I would call upon the subcommittee to think deeply about passing some sort of bill about stablecoins.

I have an amendment at the desk. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of the bill (before the short title), insert the following: Sec. __. None of the funds made…