To prohibit the Board of Governors of the Federal Reserve and the Secretary of the Treasury from issuing a central bank digital currency, and for other purposes.
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
This bill, To prohibit the Board of Governors of the Federal Reserve and the Secretary of the Treasury from issuing a central bank digital currency, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HB5C7144A3E9949C18EE21E3D6E8834E2: 1. Short title This Act may be cited as the Power of the Mint Act.
- Section HA12E4C6E9BA346C5AFB32F6921004ED9: 2. Findings The Congress finds the following: The article I, section 8 of the Constitution states that only Congress has the authority to coin money and...
- Section H8F47CBD39A3F458B9699470B2A051BE8: 3. Central bank digital currency The Federal Reserve Act (12 U.S.C. 221 et seq.) is amended by inserting after section 16 the following: 16A.Central bank...
- Section H7372E3BE18D14790B859D43CAC5EC1D1: 16A. Central bank digital currency The Board of Governors of the Federal Reserve may not, absent Congressional authorization, issue a central bank digital...
- Section HC20EC7AE9738459F966D116C31DB52D6: 317. Central bank digital currency The Secretary of the Treasury may not, absent Congressional authorization, direct the Board of Governors of the Federal...
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
This bill, To prohibit the Board of Governors of the Federal Reserve and the Secretary of the Treasury from issuing a central bank digital currency, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations
Primary Purpose
This bill, To prohibit the Board of Governors of the Federal Reserve and the Secretary of the Treasury from issuing a central bank digital currency, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Auchincloss (for himself and Mr. Hill) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_treasury"
- → Secretary of the Treasury
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