#aahth ,,congress  #b;d ,session  ,h4   
,r4 #edjc  ,,an ,,act  ,to amend the    
,federal ,reserve ,act to prohibit the  
,federal reserve banks from offering    
certain products or services directly to
 an individual1 to prohibit the use of  
central bank digital currency for       
monetary policy1 and for other purposes4
  #a4 ,short title ,this ,act may be    
cited as the ,,cbdc ,anti-,surveillance 
,state ,act4  #b4 ,prohibition on       
,federal reserve banks relating to      
certain products or services for        
individuals and prohibition on directly 
issuing a central bank digital currency 
,section #af of the ,federal ,reserve   
,act is amended by adding at the end the
 following new paragraph3  7#ah7 ,a     
,federal reserve bank shall not-- 7,a7  
offer products or services directly to  
an individual2  7,b7 maintain an account
 on behalf of an individual2 or  7,c7   
issue a central bank digital currency1  
or any digital asset that is            
substantially similar under any other   

name or label1 directly to an           
individual4  4  #c4 ,prohibition on     
,federal reserve banks indirectly       
issuing a central bank digital currency 
,section #af of the ,federal ,reserve   
,act1 as amended by section #b1 is      
further amended by adding at the end the
 following new paragraph3  7#ai7 7,a7 ,a
 ,federal reserve bank shall not offer a
 central bank digital currency1 or any  
digital asset that is substantially     
similar under any other name or label1  
indirectly to an individual through a   
financial institution or other          
intermediary4  7,b7 ,subparagraph 7,a7  
may not be construed to prohibit any    
dollar-denominated currency that is     
open1 permissionless1 and private1 and  
fully preserves the privacy protections 
of ,united ,states coins and physical   
currency4  4  #d4 ,prohibition on the   
use of central bank digital currency for
 monetary policy ,section #af of the    
,federal ,reserve ,act1 as amended by   
section #c1 is further amended by adding

 at the end the following new paragraph3
  7#bj7 ,prohibition on the use of      
central bank digital currency for       
monetary policy ,the ,board of          
,governors of the ,federal ,reserve     
,system and the ,federal ,open ,market  
,committee shall not use any central    
bank digital currency1 or any digital   
asset that is substantially similar     
under any other name or label1 to       
implement monetary policy4  4  #e4      
,central bank digital currency  7a7 ,in 
general ,the ,federal ,reserve ,act 7#ab
 ,u4,s4,c4 #bba et seq47 is amended by  
inserting after section #af the         
following3  #af;,a4 ,central bank       
digital currency  7a7 ,in general ,the  
,board of ,governors of the ,federal    
,reserve ,system may not1 absent        
,congressional authorization1 design1   
build1 develop1 establish1 or issue a   
central bank digital currency4  7b7     
,central bank digital currency defined  
,in this section1 the term central bank 
digital currency means a form of digital

 money or monetary value1 denominated in
 the national unit of account1 that is a
 direct liability of the ,federal       
,reserve ,system4  4  7b7 ,treasury     
,chapter #c of subtitle ,i of title #ca 
of the ,united ,states ,code is amended 
by inserting after section #caf the     
following3  #cag4 ,central bank digital 
currency  7a7 ,in general ,the          
,secretary of the ,treasury may not1    
absent ,congressional authorization1    
direct the ,board of ,governors of the  
,federal ,reserve ,system to design1    
build1 develop1 establish1 or issue a   
central bank digital currency4  7b7     
,central ,bank ,digital ,currency       
defined ,in this section1 the term      
central bank digital currency means a   
form of digital money or monetary value1
 denominated in the national unit of    
account1 that is a direct liability of  
the central bank4  4  #f4 ,protection   
for open1 permissionless1 and private   
currency ,this ,act and the amendments  
made by this ,act shall not apply to any

 dollar-denominated currency that is    
open1 permissionless1 and private1 and  
fully preserves the privacy protections 
of ,united ,states coins and physical   
currency4  #g4 ,sense of ,congress ,it  
is the sense of ,congress that the      
,board of ,governors of the ,federal    
,reserve ,system should not be permitted
 to develop1 create1 or implement a     
central bank digital currency1 or use   
any such tool to implement monetary     
policy4  #h4 ,prohibition on central    
bank digital currency testing ,section  
#af;,a of the ,federal ,reserve ,act1 as
 added by section #e1 is amended by     
adding at the end the following3  7,c7  
,prohibition on central bank digital    
currency testing ,unless authorized by  
an ,act of ,congress enacted after the  
date of the enactment of this ,act1 the 
,board of ,governors of the ,federal    
,reserve ,system and the ,federal       
reserve banks may not establish1 carry  
out1 or approve a program intended to   
test the practicability of issuing a    

central bank digital currency1 including
 by partnering or coordinating with a   
private sector entity to carry out such 
a program4  4  ,passed the ,house of    
,representatives ,may #bc1              
#bjbd4;,clerk4