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Jun 3, 2024 Referred in Senate Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs See what changed
May 23, 2024 Engrossed in House See what changed
Sep 12, 2023viewing Reported in House Mr. Emmer (for himself, Mr. Bacon, Mr. Biggs, Mr. Bost, Mr. Brecheen, Mr. Cloud, Mr. Davidson, Mr. Donalds, Mr. Duncan, Mr. Fallon, Mr. Fitzgerald, Mr. Flood, Mr. Scott Franklin of Florida, Mr. Gosar, Ms. Greene of Georgia, Mr. Grothman, Mr. Hern, Mr. Hill, Mr. Jackson of Texas, Mr. Kean of New Jersey, Mr. Kiley, Mrs. Kim of California, Mr. LaTurner, Mrs. Lesko, Ms. Letlow, Mr. Loudermilk, Mrs. Luna, Ms. Mace, Mr. Meuser, Mrs. Miller of Illinois, Mr. Mills, Mr. Norman, Mr. Pfluger, Mr. Posey, Mr. Reschenthaler, Mr. Rogers of Alabama, Mr. Rouzer, Mr. Austin Scott of Georgia, Mr. Self, Mr. Sessions, Mr. Smith of New Jersey, Mr. Steil, Mr. Timmons, Mr. Valadao, Mr. Van Drew, Mr. Weber of Texas, Mr. Yakym, Mr. Ogles, Mr. Lawler, Mrs. Wagner, Mrs. Houchin, Ms. Hageman, and Mr. Barr) introduced the following bill; which was referred to the Committee on Financial Services See what changed
Sep 12, 2023 Introduced in House Mr. Emmer (for himself, Mr. Bacon, Mr. Biggs, Mr. Bost, Mr. Brecheen, Mr. Cloud, Mr. Davidson, Mr. Donalds, Mr. Duncan, Mr. Fallon, Mr. Fitzgerald, Mr. Flood, Mr. C. Scott Franklin of Florida, Mr. Gosar, Ms. Greene of Georgia, Mr. Grothman, Mr. Hern, Mr. Hill, Mr. Jackson of Texas, Mr. Kean of New Jersey, Mr. Kiley, Mrs. Kim of California, Mr. LaTurner, Mrs. Lesko, Ms. Letlow, Mr. Loudermilk, Mrs. Luna, Ms. Mace, Mr. Meuser, Mrs. Miller of Illinois, Mr. Mills, Mr. Norman, Mr. Pfluger, Mr. Posey, Mr. Reschenthaler, Mr. Rogers of Alabama, Mr. Rouzer, Mr. Austin Scott of Georgia, Mr. Self, Mr. Sessions, Mr. Smith of New Jersey, Mr. Steil, Mr. Timmons, Mr. Valadao, Mr. Van Drew, Mr. Weber of Texas, Mr. Yakym, Mr. Ogles, Mr. Lawler, Mrs. Wagner, Mrs. Houchin, Ms. Hageman, and Mr. Barr) introduced the following bill; which was referred to the Committee on Financial Services

H.R. 5403 — what changed

CBDC Anti-Surveillance State Act

From Introduced in House to Reported in House. 3 sections amended and 2 added between Introduced in House and Reported in House.

Sec. 2 Prohibition on Federal reserve banks relating to certain products or services for individuals and prohibition on directly issuing a central bank digital currency

changed Section 13 16 of the Federal Reserve Act is amended by adding at the end the following new paragraph:

changed ~~“(15)~~ “(18) A Federal reserve bank shall not—

“(A) offer products or services directly to an individual;

“(B) maintain an account on behalf of an individual; or

“(C) issue a central bank digital currency, or any digital asset that is substantially similar under any other name or label, directly to an individual.”

Sec. 3 Prohibition on Federal reserve banks indirectly issuing a central bank digital currency

changed Section 13 16 of the Federal Reserve Act, as amended by section 2, is further amended by adding at the end the following new paragraph:

changed ~~“(16)~~“(19)

“(A) A Federal reserve bank shall 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.

“(B) Subparagraph (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.”

Sec. 4 Prohibition on the use of central bank digital currency for monetary policy

changed Section 10 16 of the Federal Reserve ~~Act~~ Act, as amended by section 3, is further amended by ~~inserting before paragraph (12)~~ adding at the end the following new paragraph:

changed ~~“(11)~~ “(20) Prohibition on the use of central bank digital currency for monetary policy—The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall not use any central bank digital currency, or any digital asset that is substantially similar under any other name or label, to implement monetary policy.”

Sec. 5 Central bank digital currency

added

(a)

added In general— The Federal Reserve Act (12 U.S.C. 221 et seq.) is amended by inserting after section 16 the following:

added “16A. Central bank digital currency

added “(a) In general—The Board of Governors of the Federal Reserve System may not, absent Congressional authorization, issue a central bank digital currency.

added “(b) Central bank digital currency defined—In this section, the term central bank digital currency means a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the Federal Reserve System.”

(b)

added Treasury— Chapter 3 of subtitle I of title 31 of the United States Code is amended by inserting after section 316 the following:

added “317. Central bank digital currency

added “(a) In general—The Secretary of the Treasury may not, absent Congressional authorization, direct the Board of Governors of the Federal Reserve System to issue a central bank digital currency.

added “(b) Central Bank Digital Currency defined—In this section, the term central bank digital currency means a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the central bank.”

Sec. 6 Protection for open, permissionless, and private currency