CBDC Anti-Surveillance State Act

6/18/2024, 8:38 PM

CBDC Anti-Surveillance State Act

This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency (i.e., a digital dollar) directly or indirectly to an individual. Further, The Board of Governors of the Federal Reserve System is prohibited from using a central bank digital currency to implement monetary policy or from issuing a central bank digital currency.

Congress
118

Number
HR - 5403

Introduced on
2023-09-12

# Amendments
3

Sponsors
+5

Cosponsors
+5

Variations and Revisions

6/3/2024

Status of Legislation

Bill Introduced
Introduced to House
Passed in House
Introduced to Senate
Senate to Vote

Purpose and Summary

CBDC Anti-Surveillance State Act

This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency (i.e., a digital dollar) directly or indirectly to an individual. Further, The Board of Governors of the Federal Reserve System is prohibited from using a central bank digital currency to implement monetary policy or from issuing a central bank digital currency.

Alternative Names
Official Title as IntroducedTo amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.

Policy Areas
Finance and Financial Sector

Potential Impact
Bank accounts, deposits, capital•
Computers and information technology•
Currency•
Digital media•
Financial services and investments

Comments

Recent Activity

Latest Summary5/21/2024

CBDC Anti-Surveillance State Act

This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital ...


Latest Action6/3/2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.