Last progress September 4, 2025 (3 months ago)
Introduced on September 4, 2025 by Warren Davidson
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill would create a new Office of Strategic Currency Diplomacy inside the State Department to help protect the U.S. dollar’s role in the world. The office would push back against moves by rival countries to weaken the dollar, work with allies to keep dollar-based payment and financial systems strong, study virtual assets, and make sure U.S. sanctions and foreign policy support America’s monetary security. It would also coordinate work abroad with Treasury, Commerce, and intelligence agencies to carry out these goals.
The office would advise on policies to prevent a drop in global use of the dollar, lead plans to keep the dollar the top reserve currency, and include findings in the State Department’s Biannual Economic Security Report. It would develop programs to increase how much of other countries’ central bank reserves and international transactions are in dollars, represent the Secretary in global talks on virtual assets and dollar payment stablecoins, and monitor and counter the spread of central bank digital currencies in other nations.