US Lawmakers Block Central Bank Digital Currency Plans
The US House of Representatives passed the Anti-CBDC Surveillance State Act (H.R. 1919) on July 17, 2025, by a vote of 219-210. This legislation aims to prevent the Federal Reserve from issuing a retail central bank digital currency (CBDC) directly or through intermediaries and using it as a monetary policy tool.
The bill prohibits the Federal Reserve from offering financial products or services directly to individuals, maintaining accounts for individuals, directly issuing a CBDC or substantially similar digital asset, indirectly offering a CBDC to individuals through a bank or other intermediary, and using a CBDC to implement monetary policy.
The stated purpose of the bill is to prevent the government from developing programmable central-bank money that could be used to monitor or control individual transactions. Supporters argue that a retail CBDC could create a detailed record of personal payments and potentially restrict categories of spending, automate negative interest, or allow accounts to be frozen centrally.
The bill has not yet become law as it still needs to pass the Senate and receive the President's signature. However, related CBDC restrictions have been incorporated into the Senate-reported version of the CLARITY Act, which remains pending.