United States of America: Passed CBDC Anti-Surveillance State Act (HR 5403)

On 23 May 2024, the CBDC Anti-Surveillance State Act (HR 5403) was passed by the House of Representatives. The Act aims to amend the Federal Reserve Act to limit the Federal Reserve Banks' Authority with respect to central bank digital currency (CBDC). The Act would prohibit Federal Reserve banks from offering products or services directly to individuals, maintaining accounts on behalf of individuals, and issuing a CBDC or any similar digital asset directly to individuals. Additionally, the Act would prohibit Federal Reserve banks from indirectly issuing CBDC or using CBDC for monetary policy.