Anti-CBDC Surveillance State Act
House Passes Bill to Ban Federal Reserve from Creating a Digital Dollar
Stalled
No legislative action in over 90 days.
Legislative Progress
219–210
Key Points
- This bill stops the Federal Reserve from creating a 'digital dollar' for the general public. It prevents the government from offering bank accounts or financial services directly to individuals, which are currently handled by private banks and credit unions.
- The main goal is to protect personal privacy. Supporters of the bill worry that a government-run digital currency would allow the state to track every purchase a person makes or even control how they spend their money.
- The Federal Reserve would be banned from testing, studying, or launching a digital currency. It would also be prohibited from using a digital currency to manage the nation's economy or influence interest rates.
- The bill includes an exception for digital currencies that are private and open to everyone, similar to how physical cash works. This ensures that the rules only apply to government-controlled digital money, not private digital assets that protect user privacy.
- Congress states that the Federal Reserve does not currently have the legal power to create a digital currency. This law makes it clear that the Fed would need a new law passed by Congress before it could ever try to start one.
Impact Analysis
Personal Impact
Life & Work
A central bank digital currency could have offered small businesses faster, cheaper payment processing by cutting out middlemen. By banning it, this bill preserves the current system where businesses rely on private banks and payment processors, which charge transaction fees. On the other hand, small business owners concerned about government financial surveillance may see this as a privacy win.
Activities
Milestones
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by the Yeas and Nays: 219 - 210 (Roll no. 201). (text of amendment in the nature of a substitute: CR H3427-3428)
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 219 - 210 (Roll no. 201).
The House of Representatives voted to approve this bill. It now goes to the Senate.
Considered as unfinished business. (consideration: CR H3450)
POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 1919, the Chair put the question on passage of the bill and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
Vote Results
1 voteRelated News
5 articles
Trump signs landmark GENIUS Act, hailing 'exciting new frontier' for crypto
President Trump signed the GENIUS Act into law while the House advanced the Anti-CBDC Surveillance State Act (H.R. 1919). The bill prohibits the Federal Reserve from issuing a retail digital dollar, reflecting a broader GOP push to prioritize private stablecoins over government-run currency.
House Republicans plan 'Crypto Week' votes on industry-backed bills
House leadership designated the week of July 14th as 'Crypto Week,' scheduling floor votes for the Anti-CBDC Surveillance State Act. The legislation, sponsored by Whip Tom Emmer, aims to permanently block the creation of a Central Bank Digital Currency to safeguard financial privacy.
House GOP moves to combine central bank digital currency ban with crypto bill
House Republicans are maneuvering to pass the Anti-CBDC Surveillance State Act alongside broader crypto market structure legislation. The move highlights the GOP's strategy to link financial privacy protections with the expansion of the private digital asset industry.
Source Information
Document Type
Congressional Bill
Official Title
Anti-CBDC Surveillance State Act
Data Sources
Sponsor
Cosponsors
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