House Republicans pass bill to block central bank digital currency

Published May 23, 2024 2:00pm ET



The House has passed legislation that would stop the Federal Reserve from issuing a central bank digital currency, a victory for privacy advocates who argue that such a CBDC could give the federal government vast new powers to micromanage citizens’ lives.

The House voted 216-192 in favor of the legislation Thursday, sending the CBDC Anti-Surveillance State Act to the Senate for consideration. The bill was sponsored by House Majority Whip Tom Emmer (R-MN), who has said such a bill was needed to prevent government overreach and protect financial privacy.

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.