CBDC Anti-Surveillance State Act

House Bill 5403 - CBDC Anti-Surveillance State Act: Overview, Status, and Impact

Hozzl · 2024-06-18T20:38:26Z

Explore the details of House Bill 5403 CBDC Anti-Surveillance State Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

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.

Read the Full Bill

Formatted Text PDF Formatted XML

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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

165

Democrat Cosponsors

Republican Cosponsors

165

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 5403

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Bank accounts, deposits, capital

- Computers and information technology

- Currency

- Digital media

- Financial services and investments

Alternate Title(s) of Bill HR 5403

CBDC Anti-Surveillance State Act

To 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.