Referred to the House Committee on Financial Services.
The bill amends the Federal Reserve Act to forbid Federal Reserve banks, the Board, the Treasury, or their agents from minting or issuing a central bank digital currency (CBDC) directly to individuals or to digital currency intermediaries, offering CBDC-related products or services directly to individuals, or maintaining accounts for individuals. It also prohibits Federal Reserve banks from holding U.S. Government–issued digital currencies on their balance sheets or using such digital currencies to meet reserve requirements under section 2A.
Progressives emphasize federal CBDC for inclusion; conservatives emphasize restricting federal power.
Narrow, simple text helps support among CBDC opponents; opposition from pro-Fed flexibility coalitions likely.
The bill amends the Federal Reserve Act to forbid Federal Reserve banks, the Board, the Treasury, or their agents from minting or issuing a central bank digital currency (CBDC) directly to individuals or to digital currency intermediaries, offering CBDC-related products or services directly to individuals, or maintaining accounts for individuals.
It also prohibits Federal Reserve banks from holding U.S. Government–issued digital currencies on their balance sheets or using such digital currencies to meet reserve requirements under section 2A.
Narrow statutory ban increases support among skeptics but lacks compromise features and would encounter significant resistance in the Senate and executive branch.
How solid the drafting looks.
Progressives emphasize federal CBDC for inclusion; conservatives emphasize restricting federal power.
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize federal CBDC for inclusion; conservatives emphasize restricting federal power.
Likely skeptical or opposed.
Progressives often favor federal tools to expand financial inclusion, and a Fed CBDC could broaden access and lower transaction costs.
They may nonetheless share privacy and civil-liberties concerns, so opposition depends on whether privacy and access protections were otherwise guaranteed.
Pragmatic cautious approval.
Centrists will appreciate limiting disruptive Fed actions while wanting Congressional oversight and clear definitions.
They will weigh financial stability and transition risks against benefits like inclusion and innovation, favoring measured, well-defined approaches.
Strongly supportive.
Conservatives prioritize limiting federal power and protecting private banking.
This bill aligns with skepticism of central planning of money and concerns about privacy, government overreach, and fiscal control.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow statutory ban increases support among skeptics but lacks compromise features and would encounter significant resistance in the Senate and executive branch.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize federal CBDC for inclusion; conservatives emphasize restricting federal power.
Narrow statutory ban increases support among skeptics but lacks compromise features and would encounter significant resistance in the Senat…
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