To amend the Federal Reserve Act to require an Act of Congress for certain activities related to the issuance of 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 amend the Federal Reserve Act to require an Act of Congress for certain activities related to the issuance of 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 H5C445544E4AD40F49924779E628189E7: 1. Short title This Act may be cited as the Digital Dollar Pilot Prevention Act.
- Section H77A0F41A020E4F5CB1430CAC9DB36C73: 2. 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 H413CC206D6D149F9B10BF51B11222DFE: 16A. Central bank digital currency Unless authorized by an Act of Congress enacted after the date of the enactment of this Act, the Board of Governors of the...
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 amend the Federal Reserve Act to require an Act of Congress for certain activities related to the issuance of 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 amend the Federal Reserve Act to require an Act of Congress for certain activities related to the issuance of 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. Mooney (for himself, Mr. Sessions, Mr. Posey, Mr. Norman, …
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?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
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