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Central Bank Digital Currency Study: Impact on Citizens and Economy

This act directs the Federal Reserve to conduct a study on the introduction of a central bank digital currency (CBDC). The goal is to assess how such a currency would affect personal finances, data privacy, transaction security, and the stability of the banking system, so citizens can better understand potential changes in how they pay and manage money.
Key points
The Federal Reserve will study the impact of a digital currency on consumers and small businesses, including payment accessibility, security, and privacy.
The analysis will cover how a digital currency might change monetary policy, the effectiveness of economic sanctions, and the U.S. dollar's global standing.
The report will propose feasible digital currency models, considering fraud protection, transaction anonymity, and interoperability with existing payment systems.
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Expired
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Additional Information
Print number: 117_HR_2211
Sponsor: Rep. Foster, Bill [D-IL-11]
Process start date: 2021-03-26
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Central Bank Digital Currency Study Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2211.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-26.

What are the main provisions?

Key points include:

  • The Federal Reserve will study the impact of a digital currency on consumers and small businesses, including payment accessibility, security, and privacy.
  • The analysis will cover how a digital currency might change monetary policy, the effectiveness of economic sanctions, and the U.S. dollar's global standing.
  • The report will propose feasible digital currency models, considering fraud protection, transaction anonymity, and interoperability with existing payment systems.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Foster, Bill [D-IL-11].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy