Anti-CBDC Surveillance State Act
Senate Bill Would Ban Federal Reserve from Developing a Digital Dollar
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Congress would block the Federal Reserve from creating or issuing a “digital dollar” that people could use like cash.
- The bill would stop the Federal Reserve from offering services directly to individuals, like holding personal accounts at the Fed.
- It would also ban the Fed from issuing a digital dollar through banks or other middlemen, not just directly to the public.
- The bill would bar the Fed from even testing or developing this kind of currency, and from using it to run monetary policy.
- Supporters frame this as a privacy safeguard; it would also limit future options for faster government-backed digital payments.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
4 articles
Trump signs landmark GENIUS Act, hailing 'exciting new frontier' for crypto
Lawmakers approved the Anti-CBDC Surveillance State Act, which prevents the Federal Reserve from issuing any retail central bank digital currency directly to Americans. The legislation is seen by the Trump administration as a way to prioritize private innovation over government-run currency.
Crypto investors look ahead to policy wins, propelling bitcoin to record high
The House is set to vote on the Anti-CBDC Surveillance State Act during 'Crypto Week.' The bill is part of a broader GOP push to revamp rules in favor of the industry and block the development of a government-controlled digital dollar that could compete with private stablecoins.
Cruz, GOP senators double down on anti-central bank digital currency legislation
Senator Ted Cruz and GOP colleagues introduced the Senate companion to the Anti-CBDC Surveillance State Act. Cruz argued that a digital dollar would give the government unprecedented surveillance powers, emulating China's use of CBDCs to track personal spending habits.
Source Information
Document Type
Congressional Bill
Official Title
Anti-CBDC Surveillance State Act
Data Sources
Sponsor
Cosponsors
(6)Analysis generated by AI. Always verify with official sources.