H.R. 1919

Anti-CBDC Surveillance State Act

Sponsor: Tom Emmer

135 cosponsors
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Official summary

Written by the Congressional Research Service.

Anti-CBDC 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). 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 testing, studying, creating, or implementing a central bank digital currency, with exceptions as provided by the bill.

Text of the bill

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Sec. 5. Sense of Congress Changed · May 6, 2025

Where this section came from

  1. Mar 6, 2025 · Introduced in House Referred to House Committee on Financial Services, Mar 6, 2025
  2. May 6, 2025 · Reported in House Marked up by House Committee on Financial Services, Apr 2, 2025 Reported by House Committee on Financial Services, May 6, 2025 Committee members' individual votes aren't in our records.
What changed in the text

It is the sense of Congress that the Board of Governors of the Federal Reserve System currently does not have the authority to issue a central bank digital currency, or any digital asset that is substantially similar under any other name or label, and will not have such authority unless Congress grants it under Congress’s Article 1 Section 8 powers.

What is a markup?

A markup is a committee meeting where members go through a bill and vote on changes before sending it to the full chamber.

It is the sense of Congress that the Board of Governors of the Federal Reserve System currently does not have the authority to issue a central bank digital currency, or any digital asset that is substantially similar under any other name or label, and will not have such authority unless Congress grants it under Congress’s Article 1 Section 8 powers.