,,ib ,union ,calendar ,no4 #ff #aaith ,,congress #ast ,session ,h4 ,r4 #aiai ,report ,no4 #aai-ib ,,in ,,the ,,house ,,of ,,representatives ,march #f1 #bjbe,mr4 ,emmer 7for himself1 ,mr4 ,hill of ,arkansas1 ,mr4 ,moolenaar1 ,mr4 ,hudson1 ,mr4 ,ogles1 ,mr4 ,bost1 ,mr4 ,scott ,franklin of ,florida1 ,ms4 ,greene of ,georgia1 ,mr4 ,biggs of ,arizona1 ,mr4 ,cloud1 ,mr4 ,flood1 ,mr4 ,gosar1 ,mrs4 ,kim1 ,mr4 ,meuser1 ,mr4 ,davidson1 ,mr4 ,kiley of ,california1 ,mr4 ,donalds1 ,mr4 ,fitzgerald1 ,mrs4 ,luna1 ,mr4 ,garbarino1 ,mr4 ,lucas1 ,mr4 ,sessions1 ,mr4 ,huizenga1 ,mrs4 ,wagner1 ,mr4 ,barr1 ,mr4 ,williams of ,texas1 ,mr4 ,loudermilk1 ,mr4 ,rose1 ,mr4 ,steil1 ,mr4 ,timmons1 ,mr4 ,norman1 ,mr4 ,lawler1 ,ms4 ,de ,la ,cruz1 ,mr4 ,nunn of ,iowa1 ,ms4 ,salazar1 ,mr4 ,haridopolos1 ,mr4 ,downing1 ,mr4 ,moore of ,north ,carolina1 ,mr4 ,bacon1 ,mr4 ,brecheen1 ,mr4 ,kelly of ,pennsylvania1 ,mr4 ,grothman1 ,ms4 ,mace1 ,mr4 ,reschenthaler1 ,mr4 ,rogers of ,alabama1 ,mr4 ,rouzer1 ,mr4 ,valadao1 ,mr4 ,van ,drew1 ,mr4 ,weber of ,texas1 ,mrs4 ,houchin1 ,ms4 ,hageman1 ,mr4 ,langworthy1 ,mr4 ,gooden1 ,mr4 ,finstad1 ,mrs4 ,fischbach1 ,mr4 ,bean of ,florida1 ,mr4 ,amodei of ,nevada1 ,mr4 ,graves1 ,mrs4 ,harshbarger1 ,mr4 ,crane1 ,mr4 ,ciscomani1 ,mr4 ,baird1 ,mr4 ,kelly of ,mississippi1 ,mrs4 ,cammack1 ,mr4 ,fleischmann1 ,mr4 ,murphy1 ,mrs4 ,bice1 ,mr4 ,carter of ,texas1 ,mr4 ,johnson of ,south ,dakota1 ,mr4 ,clyde1 ,mr4 ,tiffany1 ,mr4 ,bergman1 ,ms4 ,van ,duyne1 ,mr4 ,collins1 ,mr4 ,latta1 ,mr4 ,crenshaw1 ,mr4 ,ellzey1 ,mr4 ,issa1 ,mr4 ,owens1 ,mr4 ,perry1 ,mr4 ,zinke1 ,mr4 ,higgins of ,louisiana1 ,mrs4 ,hinson1 ,mr4 ,balderson1 ,mr4 ,mc,cormick1 ,mr4 ,carey1 ,mr4 ,wittman1 ,mr4 ,roy1 ,mr4 ,mc,caul1 ,mr4 ,rutherford1 ,mr4 ,smith of ,nebraska1 ,ms4 ,tenney1 ,mr4 ,crank1 ,mr4 ,baumgartner1 ,mr4 ,mackenzie1 ,mr4 ,mc,dowell1 ,mr4 ,messmer1 ,mr4 ,schmidt1 ,mr4 ,taylor1 ,mr4 ,gill of ,texas1 and ,mr4 ,guest7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,may #f1 #bjbe;,additional sponsors3 ,mr4 ,goldman of ,texas1 ,mr4 ,bentz1 ,mr4 ,moore of ,alabama1 ,ms4 ,letlow1 ,mr4 ,ezell1 ,mr4 ,cole1 ,mr4 ,feenstra1 ,mr4 ,mann1 ,mr4 ,la,hood1 ,mr4 ,jackson of ,texas1 ,mr4 ,cline1 ,mr4 ,moran1 ,mr4 ,guthrie1 ,mr4 ,yakym1 ,mr4 ,pfluger1 ,mr4 ,green of ,tennessee1 ,mr4 ,stutzman1 ,mr4 ,babin1 ,mr4 ,nehls1 ,mr4 ,kean1 ,mr4 ,van ,orden1 ,mr4 ,bilirakis1 ,mr4 ,kennedy of ,utah1 ,mr4 ,womack1 ,mr4 ,hern of ,oklahoma1 ,mr4 ,stauber1 ,mr4 ,mc,guire1 ,mr4 ,bresnahan1 ,mr4 ,begich1 ,mr4 ,austin ,scott of ,georgia1 ,mr4 ,edwards1 ,mr4 ,jack1 ,mrs4 ,miller of ,illinois1 ,mr4 ,steube1 and ,mr4 ,rulli ,may #f1 #bjbe,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed,strike out all after the enacting clause and insert the part printed in italic,for text of introduced bill1 see copy of bill as introduced on ,march #f1 #bjbe ,a ,,bill ,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 ,anti-,,cbdc ,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 7#ab ,u4,s4,c4 #daa et seq47 is amended by adding at the end the following new paragraph3 7#ah7 7,a7 ,a ,federal reserve bank may not-- 7i7 offer financial products or services directly to an individual2 7ii7 maintain an account on behalf of an individual2 or 7iii7 issue a central bank digital currency1 or any digital asset that is substantially similar under any other name or label4 7,b7 ,in this paragraph1 the term central bank digital currency has the meaning given that term under section #aj7aa77;,d74 4 #c4 ,prohibition on ,federal reserve banks indirectly issuing a central bank digital currency ,section #af of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #daa et seq471 as amended by section #b1 is further amended by adding at the end the following paragraph3 7#ai7 7,a7 ,a ,federal reserve bank may 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 ,in this paragraph1 the term central bank digital currency has the meaning given that term under section #aj7aa77;,d74 4 #d4 ,prohibition with respect to central bank digital currency ,section #aj of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #bda et seq47 is amended by inserting before paragraph 7#ab7 the following3 7#aa7 ,prohibition with respect to central bank digital currency 7,a7 ,in general ,the ,board of ,governors of the ,federal ,reserve ,system may not test1 study1 develop1 create1 or implement a central bank digital currency1 or any digital asset that is substantially similar under any other name or label4 7,b7 ,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 policy1 or any digital asset that is substantially similar under any other name or label4 7,c7 ,exception ,subparagraph 7,a7 and sections #af7ah77;,a77iii7 and #af7ai77;,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 7,d7 ,central bank digital currency defined ,in this paragraph1 the term central bank digital currency means a form of digital money or monetary value that is-- 7i7 denominated in the national unit of account2 7ii7 a direct liability of the ,federal ,reserve ,system2 and 7iii7 widely available to the general public4 4 #e4 ,sense of ,congress ,it is the sense of ,congress that the ,board of ,governors of the ,federal ,reserve ,system currently does not have the authority to issue a central bank digital currency1 or any digital asset that is substantially similar under any other name or label1 and will not have such authority unless ,congress grants it under ,congress's ,article #a ,section #h powers4 ,may #f1 #bjbe,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed