Cease Orwellian Surveillance and Targeting Act of 2023
Latest action · Jul 27, 2023 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 27, 2023
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Cease Orwellian Surveillance and Targeting Act of 2023 or the COST Act of 2023
This bill generally prohibits the issuance or ownership of central bank digital currencies. A central bank digital currency is a digital currency issued by a government-backed central bank.
Under the bill, the Board of Governors of the Federal Reserve System and the Federal Reserve banks are prohibited from minting or issuing a central bank digital currency. In addition, a Federal Reserve bank is prohibited from offering products or services directly to an individual or entity, providing coins or currency directly to an individual or entity, or maintaining an account on behalf of an individual or entity, with some exceptions.
Further, no person is allowed to hold or own central bank digital currency belonging to the United States or a foreign country.
Cosponsors 4
Members who signed on, in the order they did. Signatures ran from Jul 27, 2023 to Aug 4, 2023, with 3 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-FL | Byron Donalds | Original | Jul 27, 2023 |
| R-NC | Dan Bishop | Original | Jul 27, 2023 |
| R-AZ | Paul A. Gosar | Original | Jul 27, 2023 |
| R-VA | Bob Good | Aug 4, 2023 |
Actions 2
Everything that happened, newest first.
- Jul 27, 2023Introduced in House
- Jul 27, 2023Referred to the House Committee on Financial Services.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jul 27, 2023Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.
