CBDC Anti-Surveillance State Act
Latest action · Jun 3, 2024 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
- IntroducedSep 12, 2023
- Passed HouseMay 23, 2024
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
CBDC Anti-Surveillance State Act
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.
Recorded votes 4
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 230 | On Passage | Passed216–192 | May 23, 2024 |
| House 229 | On Agreeing to the Amendment | Agreed to212–195 | May 23, 2024 |
| House 228 | On Agreeing to the Amendment | Agreed to206–193 | May 23, 2024 |
| House 227 | On Agreeing to the Amendment | Agreed to204–176 | May 23, 2024 |
Cosponsors 165
Members who signed on, in the order they did. Signatures ran from Sep 12, 2023 to May 7, 2024; 52 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-TN | Andrew Ogles | Original | Sep 12, 2023 |
| R-KY | Andy Barr | Original | Sep 12, 2023 |
| R-AZ | Andy Biggs | Original | Sep 12, 2023 |
| R-MO | Ann Wagner | Original | Sep 12, 2023 |
| R-FL | Anna Paulina Luna | Original | Sep 12, 2023 |
| R-TX | August Pfluger | Original | Sep 12, 2023 |
| R-GA | Austin Scott | Original | Sep 12, 2023 |
| R-GA | Barry Loudermilk | Original | Sep 12, 2023 |
| R-FL | Bill Posey | Original | Sep 12, 2023 |
| R-WI | Bryan Steil | Original | Sep 12, 2023 |
| R-FL | Byron Donalds | Original | Sep 12, 2023 |
| R-NJ | Christopher H. Smith | Original | Sep 12, 2023 |
| R-FL | Cory Mills | Original | Sep 12, 2023 |
| R-PA | Daniel Meuser | Original | Sep 12, 2023 |
| R-CA | David G. Valadao | Original | Sep 12, 2023 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Sep 12, 2023Markup Sep 20, 2023Reported May 7, 2024 |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Jun 3, 2024 |
Actions 24
Everything that happened, newest first.
- Jun 3, 2024Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- May 23, 2024Considered under the provisions of rule H. Res. 1243. (consideration: H3496-3509)
- May 23, 2024Rule provides for consideration of H.R. 4763, H.R. 5403 and H.R. 192. The resolution provides for one hour of debate on each bill. H.R. 4763 and H.R. 5403 are considered under a structured rule and H.R. 192 is considered under a closed rule. The resolution provides for one motion to recommit on each bill.
- May 23, 2024House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 1243 and Rule XVIII.
- May 23, 2024The Speaker designated the Honorable Clay Higgins to act as Chairman of the Committee.
- May 23, 2024GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 5403.
- May 23, 2024DEBATE - Pursuant to the provisions of H.Res. 1243, the Committee of the Whole proceeded with 10 minutes of debate on the Ogles amendment No. 1.
- May 23, 2024POSTPONED PROCEEDINGS - At the conclusion of debate on the Ogles amendment No. 1, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
- May 23, 2024DEBATE - Pursuant to the provisions of H.Res. 1243, the Committee of the Whole proceeded with 10 minutes of debate on the Mooney amendment No. 2.
- May 23, 2024POSTPONED PROCEEDINGS - At the conclusion of debate on the Mooney amendment No. 2, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
- May 23, 2024DEBATE - Pursuant to the provisions of H.Res. 1243, the Committee of the Whole proceeded with 10 minutes of debate on the Davidson amendment No. 3.
- May 23, 2024POSTPONED PROCEEDINGS - At the conclusion of debate on the Davidson amendment No. 3, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
- May 23, 2024The House rose from the Committee of the Whole House on the state of the Union to report H.R. 5403.
- May 23, 2024The previous question was ordered pursuant to the rule.
- May 23, 2024The House adopted the amendment as agreed to by the Committee of the Whole House on the state of the Union.
- May 23, 2024Passed/agreed to in House: On passage Passed by recorded vote: 216 - 192 (Roll no. 230).
- May 23, 2024Motion to reconsider laid on the table Agreed to without objection.
- May 21, 2024Rules Committee Resolution H. Res. 1243 Reported to House. Rule provides for consideration of H.R. 4763, H.R. 5403 and H.R. 192. The resolution provides for one hour of debate on each bill. H.R. 4763 and H.R. 5403 are considered under a structured rule and H.R. 192 is considered under a closed rule. The resolution provides for one motion to recommit on each bill.
- May 7, 2024Reported (Amended) by the Committee on Financial Services. H. Rept. 118-493.
- May 7, 2024Placed on the Union Calendar, Calendar No. 409.
- Sep 20, 2023Committee Consideration and Mark-up Session Held
- Sep 20, 2023Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 20.
- Sep 12, 2023Introduced in House
- Sep 12, 2023Referred to the House Committee on Financial Services.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H3496–H3506Text printed H3503Amendments H3504, H3505, H3506Recorded votes H3507, H3508, H3509Davidson amendment (prohibit FRS efforts to design, build, develop, establish, or issue central bank digital currency)enactOgles amendment (prohibit FRS efforts to develop, create, or implement central bank digital currency, or use any such tool to implement monetary policy) | Alexander X. Mooney R-WV (amendment), Andrew Ogles R-TN (amendment), Bill Huizenga R-MI, Brad Sherman D-CA, Celeste Maloy R-UT, Frank D. Lucas R-OK, J. French Hill R-AR, Jake Auchincloss D-MA, James A. Himes D-CT, Keith Self R-TX, Marjorie Taylor Greene R-GA, Maxine Waters D-CA, Mike Flood R-NE, Patrick T. McHenry R-NC, Roger Williams R-TX, Scott Perry R-PA, Stephen F. Lynch D-MA, Tom Emmer R-MN, Warren Davidson R-OH (amendment) | May 23, 2024 |
| House | Debate and remarks H3414–H3419Text printed H3414Recorded votes H3418consideration (H. Res. 1243), previous questionDeclaratory Statements H3486 | Erin Houchin R-IN, James P. McGovern D-MA, John W. Rose R-TN, Nicholas A. Langworthy R-NY | May 22, 2024 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- May 9, 2024H.R. 5403, CBDC Anti-Surveillance State ActAs reported by the House Committee on Financial Services on May 7, 2024
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 169, no. 147, September 12, 2023, page H4264.
CRS reports 4
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 4
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IF11471 | Central Bank Digital Currencies | Resource | Jul 15, 2026 |
| R48390 | Federal Reserve: Policy Issues in the 119th Congress | Report | Jan 14, 2026 |
| IF10054 | Introduction to Financial Services: The Federal Reserve | Resource | Jan 7, 2026 |
| R47377 | Federal Reserve: Policy Issues in the 118th Congress | Report | Feb 6, 2024 |
Amendments 3
Amendments offered to this bill.
| Amendment | Description | Offered by | Status |
|---|---|---|---|
| HAmdt 924 | 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. | Andrew Ogles R-TN | On agreeing to the Ogles amendment (A001) Agreed to by recorded vote: 204 - 176 (Roll no. 227). |
| HAmdt 925 | Amendment prohibits the Federal Reserve's Central Bank Digital Currency (CBDC) pilot programs. | Alexander X. Mooney R-WV | On agreeing to the Mooney amendment (A002) Agreed to by recorded vote: 206 - 193 (Roll no. 228). |
| HAmdt 926 | Amendment prohibits the Federal Reserve Bank and the Treasury Department from designing, building, developing, establishing, or issuing a Central Bank Digital Currency (CBDC). | Warren Davidson R-OH | On agreeing to the Davidson amendment (A003) Agreed to by recorded vote: 212 - 195 (Roll no. 229). |
Related bills 1
Companion bills and other measures the record links to this one.
Titles 5
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- 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.
- Short Title(s) as Introduced
- CBDC Anti-Surveillance State Act
- Short Title(s) as Reported to House
- CBDC Anti-Surveillance State Act
- Short Title(s) as Passed House
- CBDC Anti-Surveillance State Act
- Short Titles from RFS (Referred to Senate) bill text
- CBDC Anti-Surveillance State Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 4
Each version as it was printed, newest first.
- Jun 3, 2024Referred in Senate
- May 23, 2024Engrossed in House
- May 7, 2024Reported in House
- Sep 12, 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
