Official Summaries

Anti-CBDC Surveillance State Act 

This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency (i.e., a digital dollar). Further, the Board of Governors of the Federal Reserve System is prohibited from using a central bank digital currency to implement monetary policy or from testing, studying, creating, or implementing a central bank digital currency, with exceptions as provided by the bill.

Current Full Text

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1919 Engrossed in House (EH)]

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119th CONGRESS
  1st Session
                                H. R. 1919

_______________________________________________________________________

                                 AN ACT


 
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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Anti-CBDC Surveillance State Act''.

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.

    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:
    ``(18)(A) A Federal reserve bank may not--
    ``(i) offer financial products or services directly to an 
individual;
    ``(ii) maintain an account on behalf of an individual; or
    ``(iii) issue a central bank digital currency, or any digital asset 
that is substantially similar under any other name or label.
    ``(B) In this paragraph, the term `central bank digital currency' 
has the meaning given that term under section 10(11)(D).''.

SEC. 3. PROHIBITION ON FEDERAL RESERVE BANKS INDIRECTLY ISSUING A 
              CENTRAL BANK DIGITAL CURRENCY.

    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:
    ``(19)(A) 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.
    ``(B) In this paragraph, the term `central bank digital currency' 
has the meaning given that term under section 10(11)(D).''.

SEC. 4. PROHIBITION WITH RESPECT TO CENTRAL BANK DIGITAL CURRENCY.

    Section 10 of the Federal Reserve Act (12 U.S.C. 241 et seq.) is 
amended by inserting before paragraph (12) the following:
            ``(11) Prohibition with respect to central bank digital 
        currency.--
                    ``(A) In general.--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.
                    ``(B) Monetary policy.--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.
                    ``(C) Exception.--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.
                    ``(D) Central bank digital currency defined.--In 
                this paragraph, the term `central bank digital 
                currency' means a form of digital money or monetary 
                value that is--
                            ``(i) denominated in the national unit of 
                        account;
                            ``(ii) a direct liability of the Federal 
                        Reserve System; and
                            ``(iii) widely available to the general 
                        public.''.

SEC. 5. SENSE OF CONGRESS.

    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.

            Passed the House of Representatives July 17, 2025.

            Attest:

                                                                 Clerk.
119th CONGRESS

  1st Session

                               H. R. 1919

_______________________________________________________________________

                                 AN ACT

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.