Us Congress 2025-2026 Regular Session

Us Congress House Bill HB1919 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 1919
5	5	To amend the Federal Reserve Act to prohibit the Federal reserve banks
6	6	from offering certain products or services directly to an individual, to
7	7	prohibit the use of central bank digital currency for monetary policy,
8	8	and for other purposes.
9	9	IN THE HOUSE OF REPRESENTATIVES
10	10	MARCH6, 2025
11	11	Mr. E
12	12	MMER(for himself, Mr. HILLof Arkansas, Mr. MOOLENAAR, Mr. HUD-
13	13	SON, Mr. OGLES, Mr. BOST, Mr. SCOTTFRANKLINof Florida, Ms.
14	14	G
15	15	REENEof Georgia, Mr. BIGGSof Arizona, Mr. CLOUD, Mr. FLOOD, Mr.
16	16	G
17	17	OSAR, Mrs. KIM, Mr. MEUSER, Mr. DAVIDSON, Mr. KILEYof Cali-
18	18	fornia, Mr. D
19	19	ONALDS, Mr. FITZGERALD, Mrs. LUNA, Mr. GARBARINO,
20	20	Mr. L
21	21	UCAS, Mr. SESSIONS, Mr. HUIZENGA, Mrs. WAGNER, Mr. BARR,
22	22	Mr. W
23	23	ILLIAMSof Texas, Mr. LOUDERMILK, Mr. ROSE, Mr. STEIL, Mr.
24	24	T
25	25	IMMONS, Mr. NORMAN, Mr. LAWLER, Ms. DELACRUZ, Mr. NUNNof
26	26	Iowa, Ms. S
27	27	ALAZAR, Mr. HARIDOPOLOS, Mr. DOWNING, Mr. MOOREof
28	28	North Carolina, Mr. B
29	29	ACON, Mr. BRECHEEN, Mr. KELLYof Pennsyl-
30	30	vania, Mr. G
31	31	ROTHMAN, Ms. MACE, Mr. RESCHENTHALER, Mr. ROGERS
32	32	of Alabama, Mr. R
33	33	OUZER, Mr. VALADAO, Mr. VANDREW, Mr. WEBER
34	34	of Texas, Mrs. H
35	35	OUCHIN, Ms. HAGEMAN, Mr. LANGWORTHY, Mr.
36	36	G
37	37	OODEN, Mr. FINSTAD, Mrs. FISCHBACH, Mr. BEANof Florida, Mr.
38	38	A
39	39	MODEIof Nevada, Mr. GRAVES, Mrs. HARSHBARGER, Mr. CRANE, Mr.
40	40	C
41	41	ISCOMANI, Mr. BAIRD, Mr. KELLYof Mississippi, Mrs. CAMMACK, Mr.
42	42	F
43	43	LEISCHMANN, Mr. MURPHY, Mrs. BICE, Mr. CARTERof Texas, Mr.
44	44	J
45	45	OHNSONof South Dakota, Mr. CLYDE, Mr. TIFFANY, Mr. BERGMAN,
46	46	Ms. V
47	47	ANDUYNE, Mr. COLLINS, Mr. LATTA, Mr. CRENSHAW, Mr.
48	48	E
49	49	LLZEY, Mr. ISSA, Mr. OWENS, Mr. PERRY, Mr. ZINKE, Mr. HIGGINS
50	50	of Louisiana, Mrs. H
51	51	INSON, Mr. BALDERSON, Mr. MCCORMICK, Mr.
52	52	C
53	53	AREY, Mr. WITTMAN, Mr. ROY, Mr. MCCAUL, Mr. RUTHERFORD, Mr.
54	54	S
55	55	MITHof Nebraska, Ms. TENNEY, Mr. CRANK, Mr. BAUMGARTNER, Mr.
56	56	M
57	57	ACKENZIE, Mr. MCDOWELL, Mr. MESSMER, Mr. SCHMIDT, Mr. TAY-
58	58	LOR, Mr. GILLof Texas, and Mr. GUEST) introduced the following bill;
59	59	which was referred to the Committee on Financial Services
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62	62	•HR 1919 IH
63	63	A BILL
64	64	To amend the Federal Reserve Act to prohibit the Federal
65	65	reserve banks from offering certain products or services
66	66	directly to an individual, to prohibit the use of central
67	67	bank digital currency for monetary policy, and for other
68	68	purposes.
69	69	Be it enacted by the Senate and House of Representa-1
70	70	tives of the United States of America in Congress assembled, 2
71	71	SECTION 1. SHORT TITLE. 3
72	72	This Act may be cited as the ‘‘Anti-CBDC Surveil-4
73	73	lance State Act’’. 5
74	74	SEC. 2. PROHIBITION ON FEDERAL RESERVE BANKS RE-6
75	75	LATING TO CERTAIN PRODUCTS OR SERV-7
76	76	ICES FOR INDIVIDUALS AND PROHIBITION 8
77	77	ON DIRECTLY ISSUING A CENTRAL BANK DIG-9
78	78	ITAL CURRENCY. 10
79	79	Section 16 of the Federal Reserve Act is amended 11
80	80	by adding at the end the following new paragraph: 12
81	81	‘‘(18)(A) A Federal reserve bank may not— 13
82	82	‘‘(i) offer products or services directly 14
83	83	to an individual; 15
84	84	‘‘(ii) maintain an account on behalf of 16
85	85	an individual; or 17
86	86	‘‘(iii) issue a central bank digital cur-18
87	87	rency, or any digital asset that is substan-19
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90	90	•HR 1919 IH
91	91	tially similar under any other name or 1
92	92	label. 2
93	93	‘‘(B) In this paragraph, the term ‘central bank 3
94	94	digital currency’ has the meaning given that term 4
95	95	under section 10(11)(D).’’. 5
96	96	SEC. 3. PROHIBITION ON FEDERAL RESERVE BANKS INDI-6
97	97	RECTLY ISSUING A CENTRAL BANK DIGITAL 7
98	98	CURRENCY. 8
99	99	Section 16 of the Federal Reserve Act, as amended 9
100	100	by section 2, is further amended by adding at the end the 10
101	101	following paragraph: 11
102	102	‘‘(19)(A) A Federal reserve bank may not offer 12
103	103	a central bank digital currency, or any digital asset 13
104	104	that is substantially similar under any other name 14
105	105	or label, indirectly to an individual through a finan-15
106	106	cial institution or other intermediary. 16
107	107	‘‘(B) In this paragraph, the term ‘central bank 17
108	108	digital currency’ has the meaning given that term 18
109	109	under section 10(11)(D).’’. 19
110	110	SEC. 4. PROHIBITION WITH RESPECT TO CENTRAL BANK 20
111	111	DIGITAL CURRENCY. 21
112	112	Section 10 of the Federal Reserve Act (12 U.S.C. 241 22
113	113	et seq.) is amended by inserting before paragraph (12) the 23
114	114	following: 24
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117	117	•HR 1919 IH
118	118	‘‘(11) PROHIBITION WITH RESPECT TO CEN -1
119	119	TRAL BANK DIGITAL CURRENCY .— 2
120	120	‘‘(A) I
121	121	N GENERAL.—The Board of Gov-3
122	122	ernors of the Federal Reserve System may not 4
123	123	test, study, develop, create, or implement a cen-5
124	124	tral bank digital currency, or any digital asset 6
125	125	that is substantially similar under any other 7
126	126	name or label. 8
127	127	‘‘(B) M
128	128	ONETARY POLICY.—The Board of 9
129	129	Governors of the Federal Reserve System and 10
130	130	the Federal Open Market Committee may not 11
131	131	use a central bank digital currency to imple-12
132	132	ment monetary policy, or any digital asset that 13
133	133	is substantially similar under any other name or 14
134	134	label. 15
135	135	‘‘(C) E
136	136	XCEPTION.—Subparagraph (A) and 16
137	137	sections 16(18)(A)(iii) and 16(19)(A) may not 17
138	138	be construed to prohibit any dollar-denominated 18
139	139	currency that is open, permissionless, and pri-19
140	140	vate, and fully preserves the privacy protections 20
141	141	of United States coins and physical currency. 21
142	142	‘‘(D) C
143	143	ENTRAL BANK DIGITAL CURRENCY 22
144	144	DEFINED.—In this paragraph, the term ‘central 23
145	145	bank digital currency’ means a form of digital 24
146	146	money or monetary value that is— 25
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149	149	•HR 1919 IH
150	150	‘‘(i) denominated in the national unit 1
151	151	of account; 2
152	152	‘‘(ii) a direct liability of the Federal 3
153	153	Reserve System; and 4
154	154	‘‘(iii) widely available to the general 5
155	155	public.’’. 6
156	156	SEC. 5. SENSE OF CONGRESS. 7
157	157	It is the sense of Congress that the Board of Gov-8
158	158	ernors of the Federal Reserve currently does not have the 9
159	159	authority to issue a central bank digital currency, or any 10
160	160	digital asset that is substantially similar under any other 11
161	161	name or label, and will not have such authority unless 12
162	162	Congress grants it under Congress’s Article 1 Section 8 13
163	163	powers. 14
164	164	Æ
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