A group of U.S. lawmakers led by Rep. Michael Cloud, joined by 28 colleagues, has urged House Speaker Mike Johnson and Senate Majority Leader John Thune to adopt a permanent ban on the Federal Reserve issuing a central bank digital currency (CBDC). In a letter sent Friday, the group described a CBDC as “inherently anti‑American” and said a temporary ban would not sufficiently protect Americans’ financial freedoms.
Their appeal responds to a proposed amendment to the Federal Reserve Act that would block the Fed from launching a CBDC only until 2031. That language appears in the Senate Committee on Banking, Housing, and Urban Affairs’ 300‑page 21st Century ROAD to Housing Act (H.R. 6644). Lawmakers argue that a sunset date leaves the door open for future authority and does not guard against potential misuse.
The letter warns a CBDC could enable unconstitutional financial surveillance and give the unelected Fed expanded control over individual finances. The group says the amendment in H.R. 6644 is a watered‑down version of the Anti‑CBDC Surveillance State Act (H.R. 1919), sponsored by Rep. Tom Emmer and passed by the House on July 17, and that stronger language should be restored because the current amendment would still allow the Fed to study a CBDC.
Separately, Sen. Mike Lee introduced the No CBDC Act (S. 464) in February 2025 to bar the Fed or Treasury from issuing a CBDC outright, but that bill has stalled in Congress.
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