According to the text of the bill, the legislation seeks “To prohibit the use of the digital currency payment system operated by the government of the People’s Republic of China, and for other purposes.” Specifically, the legislation prohibits “app platforms in the United States from hosting apps that enable transactions using the Chinese Communist Party’s digital yuan (e-CNY),” the announcement details. “The Chinese Communist Party’s digital yuan allows direct control and access to the financial lives of individuals. We cannot allow this authoritarian regime to use their state-controlled digital currency as an instrument to infiltrate our economy and the private...