To amend the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill amends Federal Reserve Act to prohibit Federal Reserve banks, the Board of Governors, the Secretary of the Treasury, and other federal agencies from minting, issuing, or managing central bank digital currency (CBDC). It relies on exemptions and compliance mandates. The main policy areas are Finance, Banking, and Technology.
Who Benefits and How
Private cryptocurrency and blockchain companies could face fewer barriers, Commercial banks and financial institutions could gain revenue opportunities, and Digital payment processors and fintech companies could gain revenue opportunities.
Who Bears the Burden and How
Federal Reserve System would take on compliance duties, Department of the Treasury would take on compliance duties, and Proponents of financial inclusion through CBDC could face higher barriers.
Key Provisions
- Amends Federal Reserve Act to prohibit Federal Reserve banks, the Board of Governors, the Secretary of the Treasury, and other federal agencies from minting, issuing, or managing central bank digital currency (CBDC)...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill amends Federal Reserve Act to prohibit Federal Reserve banks, the Board of Governors, the Secretary of the Treasury, and other federal agencies from minting, issuing, or managing central bank digital currency (CBDC).
Key Policy Areas
Finance, Banking, Technology
Primary Purpose
The bill amends Federal Reserve Act to prohibit Federal Reserve banks, the Board of Governors, the Secretary of the Treasury, and other federal agencies from minting, issuing, or managing central bank digital currency (CBDC).
Policy Domains
Full Bill - No CBDC Act
Identified Gains
- Private cryptocurrency and blockchain companies
- Commercial banks and financial institutions
- Digital payment processors and fintech companies
- Privacy-focused financial consumers
Identified Costs
- Federal Reserve System
- Department of the Treasury
- Proponents of financial inclusion through CBDC
Sponsors
Legislative Progress
IntroducedMr. Ogles introduced the following bill; which was referred to …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Commercial banks and financial institutions, Digital payment processors and fintech companies, Federal Reserve System
Positive-direction: Commercial banks and financial institutions, Digital payment processors and fintech companies
Negative-direction: Federal Reserve System
Proponents of financial inclusion through CBDC
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_board"
- → Board of Governors of the Federal Reserve System
- "the_secretary"
- → Secretary of the Treasury
- "any_other_agency"
- → Any other federal agency
- "federal_reserve_bank"
- → Any Federal Reserve Bank
Key Definitions
Terms defined in this bill
A digital currency minted or issued by the United States Government (implicitly defined as any digital currency that would be issued directly to individuals or digital currency intermediaries by federal entities)
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology