The CBDC Anti-Surveillance State Act, also known as H.R. 5403, has successfully passed in the US House of Representatives. The bill, sponsored by Republican Majority Whip Tom Emmer, aims to prevent the Federal Reserve from launching a Central Bank Digital Currency (CBDC) without Congressional authorization. Emmer’s objective is to safeguard privacy rights for Americans and ensure that the development of digital money aligns with values such as individual sovereignty, privacy, and free market competitiveness. The bill received support from 213 Republicans and was passed along party lines with a vote of 216 to 192.

However, House Democrat Maxine Waters strongly opposed the bill, criticizing it as anti-innovative and claiming that it would impede the Federal Reserve’s research and authority. Waters argued that H.R. 5403 would hinder progress, even if it meant sacrificing the dollar’s status as the world’s reserve currency and depriving US citizens of faster, cheaper, and simpler payment options.

Now, H.R. 5403 will move to the Democrat-controlled Senate, where it is expected to face further resistance. The Federal Reserve has previously stated that it has not made any decisions regarding the launch of a government-controlled digital version of the dollar. Fed Chair Jerome Powell reiterated this stance in March, emphasizing that the agency is not close to recommending or adopting a CBDC.

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