H.R.1919 — Anti-CBDC Surveillance State Act
House Roll Call
H.R.1919
| Bill | H.R.1919 — Anti-CBDC Surveillance State Act |
|---|---|
| Vote question | On Passage |
| Vote type | Yea-and-Nay |
| Result | Passed |
| Totals | Yea 219 / Nay 210 / Present 0 / Not Voting 3 |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 217 | 0 | 0 | 3 |
| D | 2 | 210 | 0 | 0 |
| I | 0 | 0 | 0 | 0 |
Research Brief
On Passage
Bill Analysis
Bill Summary: HR 1919 - Anti-CBDC Surveillance State Act
The Anti-CBDC Surveillance State Act, introduced in the 119th Congress as HR 1919, aims to prohibit the development and implementation of a central bank digital currency (CBDC) that could facilitate surveillance of individuals’ financial transactions. The bill is a response to concerns regarding privacy, financial freedom, and government overreach associated with digital currencies issued by central banks.
Key Provisions:
- Prohibition of CBDC: The bill explicitly forbids the Federal Reserve and other federal agencies from issuing a CBDC that could be used to monitor or control individual financial transactions.
- Privacy Protections: It emphasizes the protection of personal financial data, asserting that any digital currency should not enable tracking or surveillance of users’ spending habits or financial activities.
- Regulatory Framework: The legislation seeks to establish a clear regulatory framework that delineates the boundaries of digital currency issuance, ensuring that any future digital currency initiatives prioritize user privacy.
Funding and Authorities: The bill does not allocate specific funding but mandates that federal agencies refrain from pursuing CBDC initiatives that infringe on privacy rights. It leverages existing authorities of the Federal Reserve and the U.S. Treasury while reinforcing the need for transparency in digital currency discussions.
Affected Programs/Agencies: The primary agencies impacted by this legislation include the Federal Reserve, the U.S. Treasury Department, and any federal regulatory bodies involved in the oversight of monetary policy and digital currencies.
Beneficiaries and Regulation: The bill is designed to benefit individual consumers by safeguarding their financial privacy and autonomy. It also aims to regulate the actions of federal agencies concerning the development of digital currencies.
Key Timelines: Following its introduction, the latest action on HR 1919 was a motion to reconsider, which was laid on the table and agreed to without objection, indicating a consensus on the bill’s significance in the ongoing discourse surrounding digital currencies and privacy rights.
Yea (219)
K
Ken Calvert
S
Scott Franklin
L
Lisa McClain
J
John Rutherford
D
David Schweikert
P
Pete Sessions
Nay (210)
J
Jason Crow
L
Lloyd Doggett
J
John Garamendi
J
John Mannion
L
Lucy McBath
E
Eric Swalwell
R
Rashida Tlaib
N
Nydia Velázquez
D
Debbie Wasserman Schultz
