H.R. 510, titled the “Chinese Currency Accountability Act of 2023,” calls for the United States' representatives at the International Monetary Fund (IMF) to oppose any increase in the weight of the Chinese renminbi within the IMF's Special Drawing Rights basket. The bill...
Simple Explanation
The bill wants the people in charge for the US at a big money club called the International Monetary Fund to say "no" to giving China's money more importance unless China follows some important rules and doesn't change the value of its money unfairly. This rule will stop being a rule after 10 years.