Anti-CBDC Surveillance State Act

• Families and individuals: Prevents the Fed from holding accounts for people or issuing a government digital dollar aimed at the general public, which the bill frames as protecting privacy and the current cash model.
• Banks and intermediaries: Bars the Fed from indirectly issuing a CBDC through a bank or other intermediary, leaving customer-facing accounts and services with private institutions.
• Federal Reserve operations: Prohibits the Board of Governors and the Federal Open Market Committee from researching, testing, developing, or using a CBDC for monetary policy.
• Digital currency developers: Explicitly preserves the ability to create a dollar-denominated currency that is open, permissionless, private, and maintains privacy protections similar to coins and cash.

The bill also states the sense of Congress that the Fed does not have authority to issue a CBDC unless Congress grants that authority under Article I, section 8 of the Constitution.