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Anti-CBDC Surveillance State Act
To amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
Summary
The bill prohibits the Federal Reserve banks from offering central bank digital currency (CBDC) or similar digital assets directly or indirectly to individuals, either through direct accounts or through financial institutions and intermediaries. The bill also prohibits the Federal Reserve Board of Governors from testing, developing, or implementing any central bank digital currency and prohibits the use of CBDC for monetary policy. The bill defines central bank digital currency as a form of digital money denominated in dollars that is a direct liability of the Federal Reserve and widely available to the general public. The bill includes an exception for dollar-denominated digital currencies that are open, permissionless, and private while preserving the privacy protections of physical currency. The bill expresses the sense of Congress that the Federal Reserve does not have authority to issue CBDC without specific Congressional authorization.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Cruz, Ted [R-TX] (R-TX)
8 cosponsors
- Sen. Budd, Ted [R-NC] (R-NC)
- Sen. Cramer, Kevin [R-ND] (R-ND)
- Sen. Hagerty, Bill [R-TN] (R-TN)
- Sen. Husted, Jon [R-OH] (R-OH)
- Sen. Lummis, Cynthia M. [R-WY] (R-WY)
- Sen. Moreno, Bernie [R-OH] (R-OH)
- Sen. Scott, Rick [R-FL] (R-FL)
- Sen. Tillis, Thomas [R-NC] (R-NC)
Money behind the sponsor
Top reported contributors to Ted Cruz’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $4,424,745
- ENTREPRENEUR $458,096
- RDV CORPORATION $39,600
- AMERICAN AIRLINES $29,632
- BLACKSTONE $27,400
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Ted Cruz → · Outside spending →
Actions (2)
- Mar 25, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Mar 25, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
March 25, 2025
Mr. Cruz (for himself, Mr. Budd, Mr. Cramer, and Mr. Tillis) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Anti-CBDC Surveillance State Act”.
SEC. 2. PROHIBITION ON FEDERAL RESERVE BANKS RELATING TO CERTAIN PRODUCTS OR SERVICES FOR INDIVIDUALS AND PROHIBITION ON DIRECTLY ISSUING A CENTRAL BANK DIGITAL CURRENCY.
Section 16 of the Federal Reserve Act (12 U.S.C. 411 et seq.) is amended by adding at the end the following: “A Federal reserve bank may not—
“(1) offer products or services directly to an individual;
“(2) maintain an account on behalf of an individual; or
“(3) issue a central bank digital currency, as defined in section 10(11)(D), or any digital asset that is substantially similar under any other name or label.”.
SEC. 3. PROHIBITION ON FEDERAL RESERVE BANKS INDIRECTLY ISSUING A CENTRAL BANK DIGITAL CURRENCY.
Section 16 of the Federal Reserve Act (12 U.S.C. 411 et seq.), as amended by section 2, is further amended by adding at the end the following: “A Federal reserve bank may not offer a central bank digital currency, as defined in section 10(11)(D), or any digital asset that is substantially similar under any other name or label, indirectly to an individual through a financial institution or other intermediary.”.
SEC. 4. PROHIBITION WITH RESPECT TO CENTRAL BANK DIGITAL CURRENCY.
Section 10 of the Federal Reserve Act (12 U.S.C. 241 et seq.) is amended by inserting before paragraph (12) the following:
“(11) Prohibition with respect to central bank digital currency.—
“(A) In general.—The Board of Governors of the Federal Reserve System may not test, study, develop, create, or implement a central bank digital currency, or any digital asset that is substantially similar under any other name or label.
“(B) Monetary policy.—The Board of Governors of the Federal Reserve System and the Federal Open Market Committee may not use a central bank digital currency to implement monetary policy, or any digital asset that is substantially similar under any other name or label.
“(C) Exception.—Subparagraph (A) and the eighteenth and nineteenth undesignated paragraphs of section 16 may not be construed to prohibit any dollar- denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.
“(D) Central bank digital currency defined.—In this paragraph, the term ‘central bank digital currency’ means a form of digital money or monetary value that is—
“(i) denominated in the national unit of account;
“(ii) a direct liability of the Federal Reserve System; and
“(iii) widely available to the general public.”.
SEC. 5. SENSE OF CONGRESS.
It is the sense of Congress that the Board of Governors of the Federal Reserve does not have the authority to issue a central bank digital currency, or any digital asset that is substantially similar under any other name or label, and will not have such authority unless Congress grants such authority pursuant to section 8 of article I of the Constitution of the United States. <all>
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