United States 119th Congress Status: In Committee 9 R cosponsors

S 1124 — Anti-CBDC Surveillance State Act

Last action — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced March 25, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Stalled 26% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 9 sponsors

    1 primary, 8 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (9 R).

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Anti-CBDC Surveillance State Act This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency (i.e., a digital dollar). Further, the Board of Governors of the Federal Reserve System is prohibited from using a central bank digital currency to implement monetary policy or from testing, studying, creating, or implementing a central bank digital currency, with exceptions as provided by the bill.

Bill Text

How this bill changes current law

5 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill prohibits Federal Reserve banks from offering products or services directly to individuals and outlines restrictions on central bank digital currency.

  • 12 U.S.C. 411

    A Federal reserve bank may not-- (1) offer products or services directly to an individual; (2) maintain an account on behalf of an individual; or (3) issue a central bank digital currency, as defined in section 10(11)(D), or any digital asset that is substantially similar under any other name or label.

    Federal Reserve banks are prohibited from directly offering services to individuals.

  • 12 U.S.C. 411

    A Federal reserve bank may not offer a central bank digital currency, as defined in section 10(11)(D), or any digital asset that is substantially similar under any other name or label, indirectly to an individual through a financial institution or other intermediary.

    Prohibits indirect issuance of central bank digital currency through financial institutions.

  • 12 U.S.C. 241

    (11) Prohibition with respect to central bank digital currency.-- (A) In general.--The Board of Governors of the Federal Reserve System may not test, study, develop, create, or implement a central bank digital currency, or any digital asset that is substantially similar under any other name or label. (B) Monetary policy.--The Board of Governors of the Federal Reserve System and the Federal Open Market Committee may not use a central bank digital currency to implement monetary policy, or any digital asset that is substantially similar under any other name or label.

    Defines prohibitions related to the testing and use of central bank digital currency by the Federal Reserve.

  • 12 U.S.C. 241

    (C) Exception.--Subparagraph (A) and the eighteenth and nineteenth undesignated paragraphs of section 16 may not be construed to prohibit any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.

    Clarifies exceptions regarding dollar-denominated currencies.

  • 12 U.S.C. 241

    (D) Central bank digital currency defined.--In this paragraph, the term `central bank digital currency' means a form of digital money or monetary value that is-- (i) denominated in the national unit of account; (ii) a direct liability of the Federal Reserve System; and (iii) widely available to the general public.

    Provides a definition for central bank digital currency.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sponsorship breakdown

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1 sponsors · 8 co-sponsors · 538 not signed on

Sponsors (1)

Co-sponsors (8)

Not signed on (538)

538 members have not signed on to this bill.

Show all 538 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S 1124 do?
Anti-CBDC Surveillance State Act This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency (i.e., a digital dollar). Further, the Board of Governors of the Federal Reserve System is prohibited from using a central bank digital currency to implement monetary policy or from testing, studying, creating, or implementing a central bank digital currency, with exceptions as provided by the bill.
Who sponsors S 1124?
S 1124 is sponsored by Cruz, Ted (Republican), Budd, Ted (Republican), Cramer, Kevin (Republican), Tillis, Thomas (Republican), Moreno, Bernie (Republican), Lummis, Cynthia M. (Republican), Husted, Jon (Republican), Hagerty, Bill (Republican), and Scott, Rick (Republican).
What is the current status of S 1124?
This bill is in committee in the Senate. Introduced March 25, 2025. It must pass committee before a floor vote.
Where can I track S 1124?
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