HR1919
Reconsider tabled
Anti-CBDC Surveillance State Act
- Federal
- House
- Introduced Mar 6, 2025
- Session 119
Bill Text
Version EHThis Act may be cited as the Anti-CBDC Surveillance State Act.
Section 16 of the Federal Reserve Act (12 U.S.C. 411 et seq.) is amended by adding at the end the following new paragraph:
A Federal reserve bank may not—
offer financial products or services directly to an individual;
maintain an account on behalf of an individual; or
issue a central bank digital currency, or any digital asset that is substantially similar under any other name or label.
In this paragraph, the term central bank digital currency has the meaning given that term under section 10(11)(D).
Section 16 of the Federal Reserve Act (12 U.S.C. 411 et seq.), as amended by section 2, is further amended by adding at the end the following paragraph:
A Federal reserve bank may not offer a central bank digital currency, or any digital asset that is substantially similar under any other name or label, indirectly to an individual through a financial institution or other intermediary.
In this paragraph, the term central bank digital currency has the meaning given that term under section 10(11)(D).
Section 10 of the Federal Reserve Act (12 U.S.C. 241 et seq.) is amended by inserting before paragraph (12) the following:
The Board of Governors of the Federal Reserve System may not test, study, develop, create, or implement a central bank digital currency, or any digital asset that is substantially similar under any other name or label.
The Board of Governors of the Federal Reserve System and the Federal Open Market Committee may not use a central bank digital currency to implement monetary policy, or any digital asset that is substantially similar under any other name or label.
Subparagraph (A) and sections 16(18)(A)(iii) and 16(19)(A) may not be construed to prohibit any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.
In this paragraph, the term central bank digital currency means a form of digital money or monetary value that is—
denominated in the national unit of account;
a direct liability of the Federal Reserve System; and
widely available to the general public.
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.
Section 16 of the Federal Reserve Act (12 U.S.C. 411 et seq.) is amended by adding at the end the following new paragraph:
A Federal reserve bank may not—
offer financial products or services directly to an individual;
maintain an account on behalf of an individual; or
issue a central bank digital currency, or any digital asset that is substantially similar under any other name or label.
In this paragraph, the term central bank digital currency has the meaning given that term under section 10(11)(D).
Section 16 of the Federal Reserve Act (12 U.S.C. 411 et seq.), as amended by section 2, is further amended by adding at the end the following paragraph:
A Federal reserve bank may not offer a central bank digital currency, or any digital asset that is substantially similar under any other name or label, indirectly to an individual through a financial institution or other intermediary.
In this paragraph, the term central bank digital currency has the meaning given that term under section 10(11)(D).
Section 10 of the Federal Reserve Act (12 U.S.C. 241 et seq.) is amended by inserting before paragraph (12) the following:
The Board of Governors of the Federal Reserve System may not test, study, develop, create, or implement a central bank digital currency, or any digital asset that is substantially similar under any other name or label.
The Board of Governors of the Federal Reserve System and the Federal Open Market Committee may not use a central bank digital currency to implement monetary policy, or any digital asset that is substantially similar under any other name or label.
Subparagraph (A) and sections 16(18)(A)(iii) and 16(19)(A) may not be construed to prohibit any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.
In this paragraph, the term central bank digital currency means a form of digital money or monetary value that is—
denominated in the national unit of account;
a direct liability of the Federal Reserve System; and
widely available to the general public.
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.
Legislative Timeline
18 actions-
Considered under the provisions of rule H. Res. 580. (consideration: CR H3427-3434)
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Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
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DEBATE - The House proceeded with one hour of debate on H.R. 1919.
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The previous question was ordered pursuant to the rule.
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POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 1919, the Chair put the question on passage of the bill and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
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Considered as unfinished business. (consideration: CR H3450)
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Passed/agreed to in House: On passage Passed by the Yeas and Nays: 219 - 210 (Roll no. 201).
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On passage Passed by the Yeas and Nays: 219 - 210 (Roll no. 201). (text of amendment in the nature of a substitute: CR H3427-3428)
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Motion to reconsider laid on the table Agreed to without objection.
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Rules Committee Resolution H. Res. 580 Reported to House. Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
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Reported (Amended) by the Committee on Financial Services. H. Rept. 119-92.
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Reported (Amended) by the Committee on Financial Services. H. Rept. 119-92.
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Placed on the Union Calendar, Calendar No. 66.
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Committee Consideration and Mark-up Session Held
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Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 22.
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Introduced in House
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Introduced in House
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Referred to the House Committee on Financial Services.