House BillHR 1919CurrencyComputers and information technology
Anti-CBDC Surveillance State Act
INTRO MAR 6· LAST ACTION JUL 17
READING
3MIN
COSPONSORS
135
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
One chamber only
LEGISLATIVE PROGRESS
STEP 4 / 8
Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-written
This bill is highly relevant to the ongoing debate about the future of money and government's role in the digital economy. If it passes, it would prevent the U.S. from issuing a central bank digital currency, which could have major implications for financial privacy, government oversight of transactions, and the structure of the banking system. Voters who are concerned about potential government surveillance through digital money might see this as a critical protection of privacy rights.
On the other hand, not developing a CBDC could mean the U.S. lags behind other countries that are exploring or implementing their own digital currencies. It also means the Federal Reserve would not have this new tool for monetary policy or for potentially improving payment systems. The bill would solidify the current financial landscape where commercial banks are the primary interface for individuals, rather than the central bank.
KEY PROVISIONS
4AI-extracted
PROVISION 01
Prohibits Federal Reserve banks from offering financial products or services directly to individuals or maintaining individual accounts.
This prevents the U.S. central bank from acting like a retail bank and competing with commercial financial institutions.
PROVISION 02
Prohibits Federal Reserve banks from issuing a central bank digital currency (CBDC) or similar digital asset, either directly or indirectly through intermediaries.
This effectively blocks the creation and distribution of any U.S. central bank digital currency.
PROVISION 03
Prohibits the Board of Governors of the Federal Reserve System from testing, studying, developing, creating, or implementing a CBDC, and from using it for monetary policy.
This stops all official exploration and development of a CBDC within the Federal Reserve.
PROVISION 04
Includes an exception, clarifying that the prohibitions do not apply to dollar-denominated digital currencies that are open, permissionless, private, and preserve the privacy protections of physical currency.
This ensures the bill does not prevent the development of certain types of private, privacy-focused digital dollars.
Considered under the provisions of rule H. Res. 580. (consideration: CR H3427-3434)
FLOOR
JUL 17
Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
HOUSE · FLOOR
JUL 17
DEBATE - The House proceeded with one hour of debate on H.R. 1919.
FLOOR
JUL 17
The previous question was ordered pursuant to the rule.
This bill is highly relevant to the ongoing debate about the future of money and government's role in the digital economy. If it passes, it would prevent the U.S. from issuing a central bank digital currency, which could have major implications for financial privacy, government oversight of transactions, and the structure of the banking system. Voters who are concerned about potential government surveillance through digital money might see this as a critical protection of privacy rights.
On the other hand, not developing a CBDC could mean the U.S. lags behind other countries that are exploring or implementing their own digital currencies. It also means the Federal Reserve would not have this new tool for monetary policy or for potentially improving payment systems. The bill would solidify the current financial landscape where commercial banks are the primary interface for individuals, rather than the central bank.
KEY PROVISIONS
AI-extracted
high
Prohibits Federal Reserve banks from offering financial products or services directly to individuals or maintaining individual accounts.
This prevents the U.S. central bank from acting like a retail bank and competing with commercial financial institutions.
high
Prohibits Federal Reserve banks from issuing a central bank digital currency (CBDC) or similar digital asset, either directly or indirectly through intermediaries.
This effectively blocks the creation and distribution of any U.S. central bank digital currency.
high
Prohibits the Board of Governors of the Federal Reserve System from testing, studying, developing, creating, or implementing a CBDC, and from using it for monetary policy.
This stops all official exploration and development of a CBDC within the Federal Reserve.
med
Includes an exception, clarifying that the prohibitions do not apply to dollar-denominated digital currencies that are open, permissionless, private, and preserve the privacy protections of physical currency.
This ensures the bill does not prevent the development of certain types of private, privacy-focused digital dollars.
GLOSSARY
AI-written
Federal Reserve Act
The law that established the Federal Reserve System as the central bank of the United States.
Federal Reserve Bank
One of the 12 regional banks that, along with the Board of Governors, make up the Federal Reserve System, responsible for implementing monetary policy and overseeing banks in their district.
Central Bank Digital Currency (CBDC)
A digital form of a country's national currency, issued and backed by its central bank, which is a direct liability of the central bank.
Monetary Policy
Actions taken by a central bank (like the Federal Reserve) to influence the availability and cost of money and credit to help promote national economic goals.
Board of Governors of the Federal Reserve System
The main governing body of the Federal Reserve System, located in Washington, D.C., responsible for overseeing the 12 Federal Reserve Banks and setting monetary policy.
Federal Open Market Committee (FOMC)
The part of the Federal Reserve System that sets the national monetary policy, primarily by directing open market operations (buying and selling government securities).
Digital Asset
ACTION TIMELINE
16 EVENTS
JUL 17, 25
Considered under the provisions of rule H. Res. 580. (consideration: CR H3427-3434)
FLOOR
JUL 17, 25
Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
FLOOR
JUL 17, 25
DEBATE - The House proceeded with one hour of debate on H.R. 1919.
FLOOR
JUL 17, 25
The previous question was ordered pursuant to the rule.
