Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
The bill amends the Federal Reserve Act to prohibit Federal Reserve banks, the Board, the Treasury, or related agencies from minting or issuing a central bank digital currency (CBDC) directly to individuals or digital currency intermediaries, offering related products or services directly to individuals, or maintaining accounts for individuals (including via custodial intermediaries). It also bars Federal Reserve banks from holding U.S.-issued digital currencies on their balance sheets or using them to satisfy requirements under section 2A.
Liberals focus on loss of public tools for inclusion; conservatives on preventing government overreach.
Relative to its intended legislative type, this bill is a concise statutory prohibition amending the Federal Reserve Act to bar Federal Reserve and certain government actors from issuing or holding a central bank digital currency and from maintaining accounts for individuals, but it is minimalist in legislative drafting detail.
The bill amends the Federal Reserve Act to prohibit Federal Reserve banks, the Board, the Treasury, or related agencies from minting or issuing a central bank digital currency (CBDC) directly to individuals or digital currency intermediaries, offering related products or services directly to individuals, or maintaining accounts for individuals (including via custodial intermediaries).
It also bars Federal Reserve banks from holding U.S.-issued digital currencies on their balance sheets or using them to satisfy requirements under section 2A.
Short, targeted prohibition has partisan appeal but little built-in compromise and could attract executive and regulator pushback; historically such constraints rarely become law.
Relative to its intended legislative type, this bill is a concise statutory prohibition amending the Federal Reserve Act to bar Federal Reserve and certain government actors from issuing or holding a central bank digital currency and from maintaining accounts for individuals, but it is minimalist in legislative drafting detail.
Liberals focus on loss of public tools for inclusion; conservatives on preventing government overreach.
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberals focus on loss of public tools for inclusion; conservatives on preventing government overreach.
Likely opposed overall because the bill preemptively removes a public monetary tool that could advance financial inclusion and public-interest payment innovations.
They would worry the ban forecloses policy options to regulate or counteract private crypto concentration, though privacy concerns about a poorly designed CBDC are acknowledged.
Mixed stance: appreciates preventing a rushed CBDC deployment and guarding privacy, but worries a categorical ban removes an option for careful, evidence-based pilots.
Would prefer clearer legislative guardrails instead of an absolute prohibition.
Likely strongly supportive because the bill restricts federal power and prevents the Federal Reserve or Treasury from creating direct individual accounts or a government-controlled digital currency.
Seen as protecting individual liberty and preserving private banking.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Short, targeted prohibition has partisan appeal but little built-in compromise and could attract executive and regulator pushback; historically such constraints rarely become law.
The bill has not accumulated any surfaced votes yet.
Liberals focus on loss of public tools for inclusion; conservatives on preventing government overreach.
Short, targeted prohibition has partisan appeal but little built-in compromise and could attract executive and regulator pushback; historic…
Relative to its intended legislative type, this bill is a concise statutory prohibition amending the Federal Reserve Act to bar Federal Reserve and certain government actors from issuing or holding a central bank digita…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.