HR 5403 · 118th Congress 2023–2025, ended

CBDC Anti-Surveillance State Act

Introduced Sep 12, 2023 Originated House Sponsor Tom Emmer R-MN

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
R-NC	David Rouzer	Original	Sep 12, 2023
R-AZ	Debbie Lesko	Original	Sep 12, 2023
R-NE	Don Bacon	Original	Sep 12, 2023
R-IN	Erin Houchin	Original	Sep 12, 2023
R-WI	Glenn Grothman	Original	Sep 12, 2023
R-PA	Guy Reschenthaler	Original	Sep 12, 2023
R-WY	Harriet M. Hageman	Original	Sep 12, 2023
R-AR	J. French Hill	Original	Sep 12, 2023
R-KS	Jake LaTurner	Original	Sep 12, 2023
R-SC	Jeff Duncan	Original	Sep 12, 2023
D-NJ	Jefferson Van Drew	Original	Sep 12, 2023
R-OK	Josh Brecheen	Original	Sep 12, 2023
R-LA	Julia Letlow	Original	Sep 12, 2023
R-TX	Keith Self	Original	Sep 12, 2023
R-OK	Kevin Hern	Original	Sep 12, 2023
R-CA	Kevin Kiley	Original	Sep 12, 2023
R-GA	Marjorie Taylor Greene	Original	Sep 12, 2023
R-IL	Mary E. Miller	Original	Sep 12, 2023
R-TX	Michael Cloud	Original	Sep 12, 2023
R-NY	Michael Lawler	Original	Sep 12, 2023
R-IL	Mike Bost	Original	Sep 12, 2023
R-NE	Mike Flood	Original	Sep 12, 2023
R-AL	Mike Rogers	Original	Sep 12, 2023
R-SC	Nancy Mace	Original	Sep 12, 2023
R-TX	Pat Fallon	Original	Sep 12, 2023
R-AZ	Paul A. Gosar	Original	Sep 12, 2023
R-TX	Pete Sessions	Original	Sep 12, 2023
R-SC	Ralph Norman	Original	Sep 12, 2023
R-TX	Randy K. Weber, Sr.	Original	Sep 12, 2023
R-TX	Ronny Jackson	Original	Sep 12, 2023
R-IN	Rudy Yakym III	Original	Sep 12, 2023
R-WI	Scott Fitzgerald	Original	Sep 12, 2023
R-FL	Scott Franklin	Original	Sep 12, 2023
R-NJ	Thomas H. Kean, Jr.	Original	Sep 12, 2023
R-OH	Warren Davidson	Original	Sep 12, 2023
R-SC	William R. Timmons IV	Original	Sep 12, 2023
R-CA	Young Kim	Original	Sep 12, 2023
R-TX	Brian Babin		Sep 13, 2023
R-TN	Mark E. Green		Sep 13, 2023
R-MO	Eric Burlison		Sep 14, 2023
R-NY	Nicholas A. Langworthy		Sep 14, 2023
R-GA	A. Drew Ferguson IV		Sep 19, 2023
R-OR	Lori Chavez-DeRemer		Sep 19, 2023
R-TX	Roger Williams		Sep 19, 2023
R-MI	Bill Huizenga		Sep 20, 2023
R-NC	Chuck Edwards		Sep 21, 2023
R-AR	Eric A. "Rick" Crawford		Sep 21, 2023
R-KY	Brett Guthrie		Sep 22, 2023
R-CA	Ken Calvert		Sep 26, 2023
R-TX	Monica De La Cruz		Sep 26, 2023
R-FL	Neal P. Dunn		Sep 26, 2023
R-VA	Ben Cline		Sep 27, 2023
R-NY	Brandon Williams		Sep 28, 2023
R-MN	Brad Finstad		Oct 12, 2023
R-TN	David Kustoff		Oct 12, 2023
R-TX	Lance Gooden		Oct 12, 2023
R-OH	Brad R. Wenstrup		Nov 2, 2023
R-MN	Michelle Fischbach		Nov 29, 2023
R-AL	Barry Moore		Dec 1, 2023
R-TX	Troy E. Nehls		Dec 19, 2023
R-FL	Aaron Bean		Feb 5, 2024
R-AL	Jerry L. Carl		Feb 5, 2024
R-IN	Larry Bucshon		Feb 5, 2024
R-MO	Mark Alford		Feb 5, 2024
R-TN	Diana Harshbarger		Feb 6, 2024
R-AZ	Elijah Crane		Feb 6, 2024
R-NV	Mark E. Amodei		Feb 6, 2024
R-MO	Sam Graves		Feb 6, 2024
R-IN	James R. Baird		Feb 9, 2024
R-AZ	Juan Ciscomani		Feb 9, 2024
R-MS	Mike Ezell		Feb 9, 2024
R-TX	Wesley Hunt		Feb 9, 2024
R-WV	Carol D. Miller		Feb 13, 2024
R-FL	Gus M. Bilirakis		Feb 13, 2024
R-UT	John R. Curtis		Feb 13, 2024
R-MS	Michael Guest		Feb 13, 2024
R-MS	Trent Kelly		Feb 13, 2024
R-MO	Blaine Luetkemeyer		Feb 14, 2024
R-AR	Bruce Westerman		Feb 14, 2024
R-IL	Darin LaHood		Feb 14, 2024
R-NY	Andrew R. Garbarino		Feb 23, 2024
R-GA	Earl L. "Buddy" Carter		Feb 23, 2024
R-TN	John W. Rose		Feb 26, 2024
R-WV	Alexander X. Mooney		Feb 28, 2024
R-NY	Anthony D'Esposito		Feb 28, 2024
R-TN	Charles J. "Chuck" Fleischmann		Feb 28, 2024
R-AL	Dale W. Strong		Feb 28, 2024
R-NC	Dan Bishop		Feb 28, 2024
R-NC	Gregory F. Murphy		Feb 28, 2024
R-IN	Jim Banks		Feb 28, 2024
R-TX	John R. Carter		Feb 28, 2024
R-MI	John R. Moolenaar		Feb 28, 2024
R-FL	Kat Cammack		Feb 28, 2024
R-TX	Nathaniel Moran		Feb 28, 2024
R-SC	Russell Fry		Feb 28, 2024
R-TN	Scott DesJarlais		Feb 28, 2024
R-OK	Stephanie I. Bice		Feb 28, 2024
R-OK	Tom Cole		Feb 28, 2024
R-FL	W. Gregory Steube		Feb 28, 2024
R-GA	Andrew S. Clyde		Feb 29, 2024
R-SD	Dusty Johnson		Feb 29, 2024
R-TX	Kay Granger		Feb 29, 2024
R-MT	Matthew M. Rosendale, Sr.		Feb 29, 2024
R-FL	Laurel M. Lee		Mar 1, 2024
R-IA	Randy Feenstra		Mar 1, 2024
R-VA	Bob Good		Mar 5, 2024
R-ND	Kelly Armstrong		Mar 5, 2024
R-FL	Michael Waltz		Mar 5, 2024
R-WA	Cathy McMorris Rodgers		Mar 11, 2024
R-TX	Tony Gonzales		Mar 11, 2024
R-OK	Frank D. Lucas		Mar 12, 2024
R-KS	Tracey Mann		Mar 12, 2024
R-TX	Beth Van Duyne		Mar 15, 2024
R-MI	Jack Bergman		Mar 15, 2024
R-TX	Michael C. Burgess		Mar 15, 2024
R-GA	Mike Collins		Mar 15, 2024
R-WI	Thomas P. Tiffany		Mar 15, 2024
R-PA	Mike Kelly		Mar 19, 2024
R-CO	Doug Lamborn		Mar 21, 2024
R-CA	John S. Duarte		Mar 22, 2024
R-OH	Robert E. Latta		Mar 22, 2024
R-TX	Dan Crenshaw		Mar 26, 2024
R-IA	Zachary Nunn		Mar 26, 2024
R-TX	Jake Ellzey		Mar 29, 2024
R-MI	Lisa C. McClain		Apr 2, 2024
R-NC	Richard Hudson		Apr 2, 2024
R-UT	Burgess Owens		Apr 9, 2024
R-CA	Darrell Issa		Apr 9, 2024
R-TX	Jodey C. Arrington		Apr 9, 2024
R-MN	Pete Stauber		Apr 9, 2024
R-AR	Steve Womack		Apr 9, 2024
R-WI	Derrick Van Orden		Apr 23, 2024
R-IA	Ashley Hinson		Apr 26, 2024
R-FL	Brian J. Mast		Apr 26, 2024
R-FL	Carlos A. Gimenez		Apr 26, 2024
R-LA	Clay Higgins		Apr 26, 2024
R-IA	Mariannette Miller-Meeks		Apr 26, 2024
R-AL	Robert B. Aderholt		Apr 26, 2024
R-MT	Ryan K. Zinke		Apr 26, 2024
R-PA	Scott Perry		Apr 26, 2024
R-OH	Troy Balderson		Apr 26, 2024
R-OH	Mike Carey		Apr 29, 2024
R-GA	Richard McCormick		Apr 29, 2024
R-VA	Robert J. Wittman		Apr 29, 2024
R-IN	Greg Pence		Apr 30, 2024
R-UT	Celeste Maloy		May 1, 2024
R-CA	Tom McClintock		May 2, 2024
R-TX	Chip Roy		May 6, 2024
R-TX	Michael T. McCaul		May 6, 2024
R-FL	Mario Diaz-Balart		May 7, 2024

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.

Show all 24 actions

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

H. Rept. 118-493

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

Congress has the power to enact this legislation pursuant to the following: Article 1, Section 8 of the U.S. Constitution The single subject of this legislation is: This bill concerns central bank digital currencies.

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.

Bill	Title	Relationship	Latest action
HRES 1243	Providing for consideration of the bill (H.R. 4763) to provide for a system of regulation of digital assets by the Commodity Futures Trading Commission and the Securities and Exchange Commission, and for other purposes; providing for consideration of the bill (H.R. 5403) 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; and providing for consideration of the bill (H.R. 192) to prohibit individuals who are not citizens of the United States from voting in elections in the District of Columbia.	Related bill	May 22, 2024

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

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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.