Blocks government from creating a new digital currency without Congress's OK.
This bill would stop the Federal Reserve and the Treasury from creating a new digital currency, unless Congress gives its permission. This means Americans would not get a government-backed digital dollar unless lawmakers vote for it.
Today, there is no specific law stopping the Federal Reserve or the Treasury Department from creating a central bank digital currency. If this bill became law, these agencies would be legally blocked from issuing or directing such a digital currency unless Congress passes a new law specifically allowing it.
HR 4438 · 119th Congress · July 16, 2025 · AI Summary by gemini-2.5-flash · 10/10
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