Anti-CBDC Surveillance State Act
Web3 / regulatory frameworks
US legislation that prohibits the Federal Reserve and other federal agencies from researching, developing, piloting, or issuing a central bank digital currency without explicit congressional authorization, passed by the House of Representatives on July 17, 2025 as part of 'Crypto Week' alongside the GENIUS Act and CLARITY Act. The bill, formally titled the CBDC Anti-Surveillance State Act (H.R. 1919), reflects the US crypto industry's and Republican lawmakers' strong opposition to a Federal Reserve-issued digital dollar, which critics argue would enable unprecedented government surveillance of financial transactions and threaten financial privacy. The legislation passed the House with Republican support but has not been taken up by the Senate as of April 2026. Supporters argue that digital dollar surveillance risks justify a preemptive prohibition; opponents argue the bill unnecessarily restricts the Federal Reserve's research capabilities and could leave the US unprepared as other nations deploy CBDCs. Example: The passage of the Anti-CBDC Surveillance State Act through the House, combined with the earlier Trump executive order directing federal agencies not to pursue CBDC development, represented the strongest legislative signal to date that a US retail CBDC would not be developed under the current administration. By contrast, the Federal Reserve had previously published extensive research on potential digital dollar designs through Project Hamilton and other initiatives. Why it matters for Web3: The Anti-CBDC legislation reflects the political consensus within the US crypto industry that a government-issued digital dollar represents a threat to the private stablecoin sector and financial privacy broadly. Its passage through the House signals that whatever digital dollar future the US develops will be stablecoin-based and privately issued under frameworks like the GENIUS Act, rather than a central bank instrument, a significant policy choice with long-term implications for the global monetary system.
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