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.
Legislative Progress
IntroducedMr. Auchincloss introduced the following bill; which was referred to …
Primary Purpose
The Power of the Mint Act prohibits the Federal Reserve and the Secretary of the Treasury from issuing or directing the issuance of a central bank digital currency (CBDC) without explicit Congressional authorization. The bill reasserts Congressional authority over monetary policy under Article I, Section 8 of the Constitution.
Policy Domains
Bill-Wide Scope
Likely Beneficiaries
- Traditional Banking Industry
- Cryptocurrency/Digital Asset Industry
- Privacy Advocates
- Congressional Authority
Inferred from context, no direct clause evidence
Likely Burden Bearers
- Federal Reserve System
- Department of the Treasury
- CBDC Proponents
- Payment System Modernization Advocates
Inferred from context, no direct clause evidence
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "congress"
- → United States Congress
- "the_board"
- → Board of Governors of the Federal Reserve
- "the_secretary"
- → Secretary of the Treasury
Key Definitions
Terms defined in this bill
A form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the Federal Reserve or central bank.
This Act may be cited as the Power of the Mint Act.
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