CONGRESS FOR VOTERS

Michael Cloud (R-TX)

Permanent CBDC Ban Act

H.R. 10017 · House bill Finance and Financial Sector

A Republican bill with 33 Republican cosponsors · See all 33 cosponsors

Last activity — Referred to the House Committee on Financial Services.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill is titled the "Permanent CBDC Ban Act." It aims to permanently prohibit the Board of Governors of the Federal Reserve System or a Federal reserve bank from issuing or creating a central bank digital currency. To achieve this, the legislation amends Section 16A of the Federal Reserve Act by striking subsection (d). This action results in the redesignation of subsection (e) as subsection (d).

Yes

  • Scored +7

    Does this protect people from being watched or searched?

    Prevents the creation of a CBDC which could enable government monitoring of individual financial transactions.

  • Scored +5

    Does this give people more control over their personal data?

    Prohibiting a CBDC prevents potential government surveillance associated with digital currency tracking.

The opposite

  • Scored -7

    Does this give the federal government more power?

    The bill explicitly limits the power of the Federal Reserve to create a new form of currency.