summary
Introduced
02/21/2023
02/21/2023
In Committee
02/21/2023
02/21/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL 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.
AI Summary
This bill, the CBDC Anti-Surveillance State Act, aims to amend the Federal Reserve Act in several ways. First, it prohibits the Federal Reserve banks from offering certain products or services directly to individuals, including maintaining accounts or issuing a central bank digital currency (CBDC) directly to individuals. Second, it prohibits the use of CBDC for monetary policy implementation by the Federal Reserve Board and the Federal Open Market Committee. Finally, the bill requires the Federal Reserve Board to consult with each Federal Reserve bank on any CBDC study or pilot program and to issue quarterly reports to Congress on the findings and determinations from such activities.
Committee Categories
Business and Industry
Sponsors (47)
Tom Emmer (R)*,
Don Bacon (R),
Andy Biggs (R),
Mike Bost (R),
Josh Brecheen (R),
Michael Cloud (R),
Warren Davidson (R),
Byron Donalds (R),
Jeff Duncan (R),
Pat Fallon (R),
Scott Fitzgerald (R),
Mike Flood (R),
Scott Franklin (R),
Paul Gosar (R),
Marjorie Taylor Greene (R),
Glenn Grothman (R),
Kevin Hern (R),
French Hill (R),
Ronny Jackson (R),
Tom Kean (R),
Kevin Kiley (I),
Young Kim (R),
Jake LaTurner (R),
Debbie Lesko (R),
Julia Letlow (R),
Barry Loudermilk (R),
Anna Luna (R),
Nancy Mace (R),
Dan Meuser (R),
Mary Miller (R),
Cory Mills (R),
Ralph Norman (R),
August Pfluger (R),
Bill Posey (R),
Guy Reschenthaler (R),
Mike Rogers (R),
David Rouzer (R),
Austin Scott (R),
Keith Self (R),
Pete Sessions (R),
Chris Smith (R),
Bryan Steil (R),
William Timmons (R),
David Valadao (R),
Jeff Van Drew (R),
Randy Weber (R),
Rudy Yakym (R),
Last Action
Referred to the House Committee on Financial Services. (on 02/21/2023)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Banking System and Financial Institution Regulation and Reform
Macroeconomics
- ‐ Monetary Supply, Federal Reserve Board, and Treasury
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/1122/all-info | 02/22/2023 |
| BillText | https://www.congress.gov/118/bills/hr1122/BILLS-118hr1122ih.pdf | 03/13/2023 |
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