Anti-CBDC Surveillance State Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
This bill restricts the Federal Reserve’s ability to offer services directly to individuals, maintain individual accounts, or issue a digital dollar (central bank digital currency). It also prohibits the Federal Reserve Board from testing, studying, developing, or implementing a central bank digital currency for monetary policy purposes. The bill includes an exception to allow for dollar-denominated currencies that maintain privacy protections.
Key provisions
- Prohibits Federal Reserve banks from offering products or services directly to individuals.
- Prohibits Federal Reserve banks from maintaining accounts on behalf of individuals.
- Prohibits the Federal Reserve Board from issuing a central bank digital currency.
- Prohibits the Federal Reserve Board from using a central bank digital currency for monetary policy.
- Defines ‘central bank digital currency’ as a digital form of money directly backed by the Federal Reserve.
- Includes an exception for dollar-denominated currencies that preserve privacy.
Who is affected
- Individuals
- The Federal Reserve System
- The Board of Governors of the Federal Reserve System
Notable changes
- Adds provisions to the Federal Reserve Act to specifically prohibit the actions outlined in the bill.
Bill text
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Sponsors
Official sponsors from legislative records.
9 on record
Primary sponsor
Cosponsors
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