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Rejecting Central Bank Digital Currency in the US

The House of Representatives expresses opposition to the Federal Reserve developing and implementing a central bank digital currency. The aim is to protect citizens' financial privacy and prevent excessive government control over transactions.
Key points
No permission for a Central Bank Digital Currency (CBDC) in the US.
Protecting financial freedom and citizen privacy from government control.
Congress, not the Federal Reserve, holds the sole power to coin money.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HRES_629
Sponsor: Rep. Ogles, Andrew [R-TN-5]
Process start date: 2023-07-27
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Expressing the sense of the House of Representatives that the Board of Governors of the Federal Reserve System and the Federal Open Market Committee should not be permitted to develop, create, or implement a central bank digital currency, or use any such tool to implement monetary policy.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HRES_629.

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 2023-07-27.

What are the main provisions?

Key points include:

  • No permission for a Central Bank Digital Currency (CBDC) in the US.
  • Protecting financial freedom and citizen privacy from government control.
  • Congress, not the Federal Reserve, holds the sole power to coin money.
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. Ogles, Andrew [R-TN-5].

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 2025-12-24.

CATEGORIES

Economy Courts and Law