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Prohibiting Central Bank Digital Currency for Individuals

This bill aims to prevent the U.S. central bank (Federal Reserve) from offering digital currency directly to individuals or maintaining accounts for them. This means your digital money would not be directly controlled by the government, protecting your financial privacy and freedom in managing funds.
Key points
The Federal Reserve will be prohibited from offering digital currency directly to individuals or holding accounts for them.
Central bank digital currency cannot be used to influence monetary policy, limiting government control over your finances.
The Federal Reserve must regularly report to Congress on any digital currency studies.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_1122
Sponsor: Rep. Emmer, Tom [R-MN-6]
Process start date: 2023-02-21
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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

CBDC Anti-Surveillance State Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1122.

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 2023-02-21.

What are the main provisions?

Key points include:

  • The Federal Reserve will be prohibited from offering digital currency directly to individuals or holding accounts for them.
  • Central bank digital currency cannot be used to influence monetary policy, limiting government control over your finances.
  • The Federal Reserve must regularly report to Congress on any digital currency studies.
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. Emmer, Tom [R-MN-6].

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