{"format":1,"id":"118-hr-5403","congress":118,"number":"H.R. 5403","kind":"bill","group":"bills","title":"CBDC Anti-Surveillance State Act","title_source":"Short Title(s) as Passed House","official_title":"To amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.","titles":[{"type":"Official Title as Introduced","title":"To amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes."},{"type":"Short Titles from RFS (Referred to Senate) bill text","title":"CBDC Anti-Surveillance State Act"},{"type":"Display Title","title":"CBDC Anti-Surveillance State Act"},{"type":"Short Title(s) as Passed House","title":"CBDC Anti-Surveillance State Act"},{"type":"Short Title(s) as Introduced","title":"CBDC Anti-Surveillance State Act"},{"type":"Short Title(s) as Reported to House","title":"CBDC Anti-Surveillance State Act"}],"outcome":"passed_house","law_number":null,"introduced":"2023-09-12","chambers":{"house":{"status":"roll_call","date":"2024-05-23","vote":{"id":"118-2024-h230","question":"On Passage","title":"CBDC Anti-Surveillance State Act","result":"Passed","yea":216,"nay":192,"present":0,"not_voting":22,"source":"https://clerk.house.gov/evs/2024/roll230.xml"}},"senate":{"status":"na","date":null,"vote":null}},"president":{"status":"na","date":null},"vice_president_tie_breaker":null,"latest_action":{"text":"Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.","date":"2024-06-03"},"nominees":null,"amendments":[{"number":"H.Amdt. 924","sponsor":"Rep. Ogles, Andrew [R-TN-5]","purpose":"An amendment numbered 1 printed in Part C of House Report 118-516 to add a sense of Congress 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.","result":"Agreed to","date":"2024-05-23","yea":204,"nay":176,"present":0,"not_voting":55,"source":"https://clerk.house.gov/evs/2024/roll227.xml"},{"number":"H.Amdt. 925","sponsor":"Rep. Mooney, Alexander X. [R-WV-2]","purpose":"Amendment prohibits the Federal Reserve's Central Bank Digital Currency (CBDC) pilot programs.","result":"Agreed to","date":"2024-05-23","yea":206,"nay":193,"present":0,"not_voting":36,"source":"https://clerk.house.gov/evs/2024/roll228.xml"},{"number":"H.Amdt. 926","sponsor":"Rep. Davidson, Warren [R-OH-8]","purpose":"Amendment prohibits the Federal Reserve Bank and the Treasury Department from designing, building, developing, establishing, or issuing a Central Bank Digital Currency (CBDC).","result":"Agreed to","date":"2024-05-23","yea":212,"nay":195,"present":0,"not_voting":28,"source":"https://clerk.house.gov/evs/2024/roll229.xml"}],"other_votes":[{"chamber":"house","date":"2024-05-23","question":"On Agreeing to the Amendment","title":"","result":"Agreed to","yea":204,"nay":176,"present":0,"not_voting":55,"kind":"amendment","source":"https://clerk.house.gov/evs/2024/roll227.xml"},{"chamber":"house","date":"2024-05-23","question":"On Agreeing to the Amendment","title":"","result":"Agreed to","yea":206,"nay":193,"present":0,"not_voting":36,"kind":"amendment","source":"https://clerk.house.gov/evs/2024/roll228.xml"},{"chamber":"house","date":"2024-05-23","question":"On Agreeing to the Amendment","title":"","result":"Agreed to","yea":212,"nay":195,"present":0,"not_voting":28,"kind":"amendment","source":"https://clerk.house.gov/evs/2024/roll229.xml"}],"crs_summary":{"date":"2024-05-07","stage":"Reported to House","blocks":[{"k":"h","t":"CBDC Anti-Surveillance State Act"},{"k":"p","t":"This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency (i.e., a digital dollar) directly or indirectly to an individual. Further, The Board of Governors of the Federal Reserve System is prohibited from using a central bank digital currency to implement monetary policy or from issuing a central bank digital currency."}],"words":76},"summary":{"main_subject":{"text":"Amends the Federal Reserve Act and title 31 of the United States Code to restrict Federal reserve banks, the Board of Governors of the Federal Reserve System, and the Secretary of the Treasury with respect to issuing, developing, testing, or using a central bank digital currency.","cites":[{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#HB958BA436D3B4DED817690C2DB758D98"},{"label":"Sec. 3","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#H3B8DEF3460484E16BBB061F6658D3011"},{"label":"Sec. 4","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#HF0526F16EE574FE2AA62986289033977"},{"label":"Sec. 5","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#H7C0DAA5D46804588A84BDA3FADF8CFC5"},{"label":"Sec. 8","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#HA5735F656AB64B4C9B19A0B86484E1A6"}]},"core_areas":["Central bank digital currency issuance and development","Federal reserve bank services and accounts for individuals","Use of digital currency in monetary policy"],"what_it_does":[{"text":"Adds a paragraph to section 16 of the Federal Reserve Act barring a Federal reserve bank from offering products or services directly to an individual or maintaining an account on behalf of an individual.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#HB958BA436D3B4DED817690C2DB758D98"}},{"text":"Bars a Federal reserve bank from issuing a central bank digital currency, or a substantially similar digital asset under any other name or label, directly to an individual.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#HB958BA436D3B4DED817690C2DB758D98"}},{"text":"Bars a Federal reserve bank from offering a central bank digital currency, or a substantially similar digital asset, indirectly to an individual through a financial institution or other intermediary.","cite":{"label":"Sec. 3","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#H3B8DEF3460484E16BBB061F6658D3011"}},{"text":"Bars the Board of Governors of the Federal Reserve System and the Federal Open Market Committee from using a central bank digital currency, or a substantially similar digital asset, to implement monetary policy.","cite":{"label":"Sec. 4","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#HF0526F16EE574FE2AA62986289033977"}},{"text":"Adds section 16A to the Federal Reserve Act, which bars the Board of Governors from designing, building, developing, establishing, or issuing a central bank digital currency without Congressional authorization.","cite":{"label":"Sec. 5","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#H7C0DAA5D46804588A84BDA3FADF8CFC5"}},{"text":"Bars the Board of Governors and the Federal reserve banks from establishing, carrying out, or approving a program to test the practicability of issuing a central bank digital currency, unless a later Act of Congress authorizes it.","cite":{"label":"Sec. 8","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#HA5735F656AB64B4C9B19A0B86484E1A6"}}],"unexpected":[{"category":"selective_carve_out","items":[{"cite":{"label":"Sec. 6","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh#H1837844230E241F7B780AFCC2A76EFEB"},"heading":"Protection for open, permissionless, and private currency","effect":"Exempts any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of U.S. coins and physical currency, from this Act and its amendments.","amount":null,"quote":"shall not apply to any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency"}]}],"version":{"type":"Engrossed in House","date":"2024-05-23","rule":"passed","href":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text/eh"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-10-01","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/118th-congress/house-bill/5403","text":"https://www.congress.gov/bill/118th-congress/house-bill/5403/text"},"card":{"image":"card/item/118-hr-5403.png","v":"aa9f19801d83","alt":"Votes on Record. H.R. 5403, 118th Congress: CBDC Anti-Surveillance State Act. House: 216 Yea, 192 Nay. Outcome: Passed House, 23 May 2024."}}