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
The bill creates congressional findings on constitutional authority over money and the Federal Reserves role and creates prohibition on Federal Reserve and Treasury issuing CBDC without Congressional authorization. It relies on finding, prohibition, and regulatory constraint. The main policy areas are Finance and Technology.
Who Benefits and How
United States Congress would be affected, Commercial Banks and Credit Unions would be affected, and Cryptocurrency and Digital Asset Industry would be affected.
Who Bears the Burden and How
Secretary of the Treasury would be affected, Board of Governors of the Federal Reserve would be affected, and CBDC Proponents and Payment Modernization Advocates would be affected.
Key Provisions
- Creates congressional findings on constitutional authority over money and the Federal Reserves role.
- Creates prohibition on Federal Reserve and Treasury issuing CBDC without Congressional authorization.
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 creates congressional findings on constitutional authority over money and the Federal Reserves role and creates prohibition on Federal Reserve and Treasury issuing CBDC without Congressional authorization.
Key Policy Areas
Finance, Technology
Primary Purpose
The bill creates congressional findings on constitutional authority over money and the Federal Reserves role and creates prohibition on Federal Reserve and Treasury issuing CBDC without Congressional authorization.
Policy Domains
Whole bill
Identified Gains
- United States Congress
- Commercial Banks and Credit Unions
- Cryptocurrency and Digital Asset Industry
- Payment Processors and Fintech Companies
- Privacy and Civil Liberties Advocates
Identified Costs
- Secretary of the Treasury
- Board of Governors of the Federal Reserve
- CBDC Proponents and Payment Modernization Advocates
- Federal Reserve System
Legislative Progress
IntroducedMr. Auchincloss introduced the following bill; which was referred to …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Board of Governors of the Federal Reserve, Commercial Banks and Credit Unions, Federal Reserve System
Positive-direction: Commercial Banks and Credit Unions
Negative-direction: Board of Governors of the Federal Reserve, Federal Reserve System
Secretary of the Treasury, United States Congress
Positive-direction: United States Congress
Negative-direction: Secretary of the Treasury
CBDC Proponents and Payment Modernization Advocates
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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