Bill Summary: The Anti-CBDC Surveillance State Act prohibits the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) directly to individuals or indirectly through financial intermediaries. It also bars the use of a CBDC to implement monetary policy and requires that any development of a CBDC receive explicit authorization from Congress. Additionally, the bill codifies President Trump’s executive order that prohibits federal agencies from pursuing or promoting CBDC development.

Bill Status: The bill was passed by the House of Representatives by a vote of 219–210. It now awaits action in the Senate.

My Position: I voted in favor of the Anti-CBDC Surveillance State Act because Americans deserve financial privacy, not a government-controlled system that could monitor, restrict, or even punish them for how they use their own money. A CBDC could fundamentally reshape the relationship between citizens and the federal government. At its core, a CBDC is about control, be it over your wallet, your choices, or your freedom. If designed poorly, or exploited by bad actors, it could easily become a surveillance tool straight out of Beijing’s playbook. In China, the Communist Party is able to create a “social credit” score based upon people’s spending habits. During COVID, we watched our northern neighbors freeze the bank accounts of Canadian truckers who protested their country’s vaccine mandate. This bill draws a clear line. It protects our right to make private financial decisions and ensures that any future move toward digital currency upholds the values of liberty, privacy, and free-market innovation. That’s the American way, and it’s why I supported this bill.

In addition to the Anti-CBDC bill, I joined my colleagues in passing two other important crypto-currency bills that will encourage growth and stability for the digital coin marketplace.

• The Digital Asset Market Clarity Act would establish a regulatory framework for digital asset markets by implementing consumer protections and preventing bureaucratic overreach.
• The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which was passed by the Senate, would establish a regulatory framework for digital assets that are pegged to the U.S. dollar. This framework ensures that stablecoin issuers have sufficient reserves and comply with current regulations and reporting standards. President Trump signed this bill into law on July 18.