H.R. 1122 · 118th Congress
CBDC Anti-Surveillance State Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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EmmerSponsor46 cosponsors · 46 R
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Biggs
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Donalds
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Davidson
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Flood
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Hill
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Kim
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Norman
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Bacon
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Fitzgerald
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Mace
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Van Drew
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Kiley
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Yakym
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Brecheen
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Grothman
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Lesko
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Timmons
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Greene
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Cloud
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Miller
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Scott
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Reschenthaler
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Self
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Valadao
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Meuser
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Franklin
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Letlow
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Mills
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Hern9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill limits the ability of the Federal Reserve to (1) provide direct services to individuals, and (2) use a central bank digital currency. A central bank digital currency is a digital currency (e.g., Bitcoin or Ether) issued by a government-backed central bank.
What it does: CRS summary · Introduced in House · Feb 21, 2023
CBDC Anti-Surveillance State Act
This bill limits the ability of the Federal Reserve to (1) provide direct services to individuals, and (2) use a central bank digital currency. A central bank digital currency is a digital currency (e.g., Bitcoin or Ether) issued by a government-backed central bank.
Specifically, the bill prohibits the Federal Reserve and the Federal Open Market Committee from using any central bank digital currency to implement monetary policy. In addition, a Federal Reserve bank is prohibited from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency directly to an individual.
The Federal Reserve must (1) consult with each Federal Reserve bank with respect to any central bank digital currency study or pilot program, and (2) issue quarterly reports on the findings and determinations of any such study or program.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: CBDC Anti-Surveillance State Act
Latest action (Feb 21, 2023): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 21, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.