118th Congress Finance and Financial Sector
H.R. 5032: Cease Orwellian Surveillance and Targeting Act of 2023
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill generally prohibits the issuance or ownership of central bank digital currencies. A central bank digital currency is a digital currency issued by a government-backed central bank.
Under the bill, the Board of Governors of the Federal Reserve System and the Federal Reserve banks are prohibited from minting or issuing a central bank digital currency. In addition, a Federal Reserve bank is prohibited from offering products or services directly to an individual or entity, providing coins or currency directly to an individual or entity, or maintaining an account on behalf of an individual or entity, with some exceptions.
Further, no person is allowed to hold or own central bank digital currency belonging to the United States or a foreign country.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Dan Bishop R-NCOriginal
- Byron Donalds R-FLOriginal
- Paul Gosar R-AZOriginal
- Robert Good R-VA
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Other bills by Andrew Ogles
History
- Introduced in the House by Andrew Ogles.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.