Digital Currency: Permanent Ban on Federal Reserve Digital Dollars
To permanently prohibit the Board of Governors of the Federal Reserve System or a Federal reserve bank from issuing or creating a central bank digital currency, and for other purposes.
A house committee must act next: committee consideration.
While the bill has many Republican cosponsors, it lacks support from the other party and faces a difficult path to becoming law in a divided Congress.
Govbase has not yet run an impact analysis on this legislation.
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Both chambers of Congress have passed legislation barring the Federal Reserve from issuing a central bank digital currency through 2030. The bill's CBDC prohibition bars the Fed from issuing, creating, or facilitating a CBDC, effective through December 31, 2030.
The House passed the 21st Century ROAD to Housing Act, which includes a provision explicitly banning the Fed from issuing a central bank digital currency until December 31, 2030. The bill excludes private stablecoins that preserve privacy comparable to physical cash.
This bill focuses on banning the Federal Reserve from issuing a retail CBDC. Supporters worry about potential harms to personal privacy and government control of daily transactions, while critics argue it could undermine the U.S. dollar's global primacy and innovation.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
To permanently prohibit the Board of Governors of the Federal Reserve System or a Federal reserve bank from issuing or creating a central bank digital currency, and for other purposes.
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