CBDC Anti-Surveillance State Act

6/18/2024, 8:38 PM

Congressional Summary of HR 5403

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.

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Current Status of Bill HR 5403

Bill HR 5403 is currently in the status of Bill Introduced since September 12, 2023. Bill HR 5403 was introduced during Congress 118 and was introduced to the House on September 12, 2023.  Bill HR 5403's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of June 3, 2024

Bipartisan Support of Bill HR 5403

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
165
Democrat Cosponsors
0
Republican Cosponsors
165
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5403

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

Bank accounts, deposits, capitalComputers and information technologyCurrencyDigital mediaFinancial services and investments

Alternate Title(s) of Bill HR 5403

CBDC Anti-Surveillance State ActCBDC Anti-Surveillance State ActCBDC Anti-Surveillance State ActCBDC Anti-Surveillance State ActTo 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.
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Sponsors and Cosponsors of HR 5403

R
Tom Emmer
Minnesota(Republican)
R
Rudy Yakym III
Indiana(Republican)
R
Brandon Williams
New York(Republican)
R
Michael Waltz
Florida(Republican)
R
Bruce Westerman
Arkansas(Republican)

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