HR 5403 United States House · 118th Congress

CBDC Anti-Surveillance State Act

HR 5403, the CBDC Anti-Surveillance State Act, prohibits the Federal Reserve from issuing or facilitating central bank digital currency (CBDC) directly or indirectly to individuals through financial institutions. It specifically bans Federal Reserve banks from offering digital products to individuals, maintaining individual accounts, or using CBDC for monetary policy implementation. The bill also clarifies that its restrictions do not apply to existing physical cash or private, permissionless digital payment systems. This bill directly affects the Federal Reserve's ability to develop or deploy a government-run digital dollar. The law aims to prevent the Federal Reserve from creating a digital currency that could enable transaction tracking or government oversight of personal financial activity.

Issues: ✗ Technology

Bill status passed 3 of 5 stages cleared

Introduction

Sep 2023

Committee Review

Jun 2024

House Passage

May 2024

Senate Passage

President

Introduced Sep 12, 2023 Last action Jun 3, 2024

Floor votes · House May 23, 2024

How they voted

216–192

Passed · 22 other

Total votes 430

May 23, 2024

D Democratic213

3 Yea 192 Nay 18

90% Nay

I Independent1

1 Yea

100% Yea

R Republican216

212 Yea 4

98% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jun 3, 2024

Committee

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

upper

May 23, 2024

Lower · Passed

On passage Passed by recorded vote: 216 - 192 (Roll no. 230).

lower

May 23, 2024

Lower · Passed

Passed/agreed to in House: On passage Passed by recorded vote: 216 - 192 (Roll no. 230).

lower

May 23, 2024

Lower · Passed

The House adopted the amendment as agreed to by the Committee of the Whole House on the state of the Union.

lower

May 23, 2024

Lower · Passed

The House rose from the Committee of the Whole House on the state of the Union to report H.R. 5403.

lower

May 23, 2024

Introduced

POSTPONED PROCEEDINGS - At the conclusion of debate on the Davidson amendment No. 3, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.

lower

May 23, 2024

Lower · Passed

DEBATE - Pursuant to the provisions of H.Res. 1243, the Committee of the Whole proceeded with 10 minutes of debate on the Davidson amendment No. 3.

lower

May 23, 2024

Introduced

POSTPONED PROCEEDINGS - At the conclusion of debate on the Mooney amendment No. 2, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.

lower

May 23, 2024

Lower · Passed

DEBATE - Pursuant to the provisions of H.Res. 1243, the Committee of the Whole proceeded with 10 minutes of debate on the Mooney amendment No. 2.

lower

May 23, 2024

Introduced

POSTPONED PROCEEDINGS - At the conclusion of debate on the Ogles amendment No. 1, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.

lower

May 23, 2024

Lower · Passed

DEBATE - Pursuant to the provisions of H.Res. 1243, the Committee of the Whole proceeded with 10 minutes of debate on the Ogles amendment No. 1.

lower

May 23, 2024

Lower · Passed

GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 5403.

lower

May 23, 2024

Lower · Passed

The Speaker designated the Honorable Clay Higgins to act as Chairman of the Committee.

lower

May 23, 2024

Lower · Passed

House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 1243 and Rule XVIII.

lower

May 21, 2024

Lower · Passed

Rules Committee Resolution H. Res. 1243 Reported to House. Rule provides for consideration of H.R. 4763, H.R. 5403 and H.R. 192. The resolution provides for one hour of debate on each bill. H.R. 4763 and H.R. 5403 are considered under a structured rule and H.R. 192 is considered under a closed rule. The resolution provides for one motion to recommit on each bill.

lower

May 7, 2024

Lower · Passed

Reported (Amended) by the Committee on Financial Services. H. Rept. 118-493.

lower

Sep 20, 2023

Introduced

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 20.

lower

Sep 20, 2023

Lower · Passed

Committee Consideration and Mark-up Session Held

lower

Sep 12, 2023

Committee

Referred to the House Committee on Financial Services.

lower

Sep 12, 2023

Introduced

Introduced in House

lower

1 primary · 165 co-sponsors