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H.R. 1919119th CongressIn committeeLatest action Jul 17, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
This bill would stop the Federal Reserve from creating or issuing a digital U.S. dollar, with one exception for cash-like digital currency.
50-second read · 4 questions answered below
This bill would make it illegal for the Federal Reserve to create, issue, or test a central bank digital currency, known as a CBDC. It would also stop the Federal Reserve from opening accounts for regular people or using a digital dollar to manage the economy. The only exception is a digital currency that works like physical cash — open to everyone, unrestricted, and fully private.
This bill directly limits what the Federal Reserve is allowed to do. Congress is also saying, through this bill, that the Federal Reserve does not already have the power to create a digital dollar on its own.
If passed, the Federal Reserve would be legally blocked from moving forward with any CBDC research, development, or rollout unless a future law changes these rules. Any digital currency that does not match the privacy and openness of physical cash would be off the table entirely.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Motion to reconsider laid on the table Agreed to without objection.
Coverage of this bill from across the press — each outlet's political lean labeled where AllSides has rated it, and marked "Not rated" where it hasn't.
Newest of these articles:
ndtv.com
Not rated
cointelegraph.com
Not rated
Mar 8, 2026
cointelegraph.com
Not rated
benzinga.com
Not rated
zerohedge.com
Not rated
Lean labels describe the news outlet, not this bill or any party. Ratings by AllSides.