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118th Congress Finance and Financial Sector

H.R. 1122: CBDC Anti-Surveillance State Act

Introduced

  1. Introduced (completed)Feb 21, 2023
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Feb 21, 2023

This bill limits the ability of the Federal Reserve to (1) provide direct services to individuals, and (2) use a central bank digital currency. A central bank digital currency is a digital currency (e.g., Bitcoin or Ether) issued by a government-backed central bank.

Specifically, the bill prohibits the Federal Reserve and the Federal Open Market Committee from using any central bank digital currency to implement monetary policy. In addition, a Federal Reserve bank is prohibited from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency directly to an individual.

The Federal Reserve must (1) consult with each Federal Reserve bank with respect to any central bank digital currency study or pilot program, and (2) issue quarterly reports on the findings and determinations of any such study or program.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

46

Who scored on this bill

6 points earned
  1. 1Tom Emmer R-MN SponsorIntroduced, reached a cosponsor milestone2 events+6
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Other bills by Tom Emmer

History

  1. Feb 21, 2023Introduced in the House by Tom Emmer.
Show the full action history (2 actions)
  1. Feb 21, 2023Introduced in House
  2. Feb 21, 2023Referred to the House Committee on Financial Services.