H.R. 1919, the Anti-CBDC Surveillance State Act, has moved a step further in Congress after being approved by the House Financial Services Committee. The committee voted 27-22 in favor of the bill, signaling strong support but also notable opposition.
The bill, introduced on March 6, 2025, seeks to prevent the Federal Reserve from creating and issuing a Central Bank Digital Currency (CBDC) to individuals or financial intermediaries.
The goal is to stop the government from gaining too much control over personal financial transactions, potentially compromising privacy and increasing surveillance.
What’s next for the bill?
The legislation aims to block the use of CBDCs for controlling monetary policy and further expanding federal influence over private transactions. While proponents argue that the bill protects individual freedoms and ensures decentralized digital currencies, critics warn that it could hinder innovation in financial technology.
Under the U.S. legislative process, bills must first pass through committees where they are reviewed, amended, and voted on before going to the full House of Representatives for consideration.
The bill has now moved past the committee stage and will soon be up for debate and a vote in the House. If it gains a majority vote, it will move on to the Senate. If both chambers approve it, the bill will be sent to the President for final approval.
The 27-22 vote in favor of the bill shows that a majority in the committee supports blocking the Federal Reserve from issuing a CBDC. However, the close vote also highlights significant opposition to the bill, especially from those who believe it could harm the growth of digital currencies.
The debate over CBDCs
Rep. Tom Emmer, who sponsored the bill, argues that it’s crucial to prevent the government from overstepping into personal financial matters.
He and others believe that CBDCs could lead to unnecessary surveillance and restrict financial privacy. Former President Trump has also voiced opposition to the idea of a CBDC, promising that one will not be issued under his leadership.
Despite the bill’s progress, it still faces challenges in the full House and Senate, where lawmakers will continue to debate its implications on both financial privacy and technological innovation. The bill also includes provisions allowing digital currencies to remain private and open, ensuring they maintain the same privacy as physical cash.
