Anti-CBDC Surveillance State Act

Sponsor: Tom Emmer (Republican-MN)March 6, 2025

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

Motion to reconsider laid on the table Agreed to without objection.

Bans Federal Reserve from offering direct bank accounts or digital currency to Americans.

This bill would stop the Federal Reserve from offering banking services directly to individuals, like checking accounts. It would also prevent the Federal Reserve from creating or using a new digital currency, often called a central bank digital currency (CBDC). This means Americans would not be able to have a direct digital account with the nation's central bank.

What Would Change

Today, the law does not explicitly stop the Federal Reserve from offering direct financial services or a central bank digital currency. If this bill passes, the Federal Reserve would be clearly prohibited from doing these things, ensuring individuals interact with private banks instead of the central bank. It would also prevent the Federal Reserve from even developing or studying a central bank digital currency.

Key Provisions

Bans Federal Reserve banks from offering financial services directly to individuals.
Stops Federal Reserve banks from holding individual accounts.
Prohibits the Federal Reserve from creating its own digital currency (CBDC) for individuals, directly or indirectly.
Blocks the Federal Reserve from developing, testing, or creating a central bank digital currency.
Prevents the Federal Reserve from using a central bank digital currency to manage the economy.
Defines what a central bank digital currency is.