3.0.0 5032 2024-07-24T15:20:47Z 2024-07-24T15:20:47Z House H HR 2023-07-27 118 [Congressional Record Volume 169, Number 130 (Thursday, July 27, 2023)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. OGLES:H.R. 5032.Congress has the power to enact this legislation pursuantto the following:Article I, Section VIII of the United States ConstitutionThe single subject of this legislation is:To forbid the Federal Reserve from launching a Central BankDigital Currency (CBDC).[Page H4145]]]> hsba00 Financial Services Committee House Standing Referred to 2023-07-27T14:15:35Z 2023-07-27 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2023-07-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-07-27 Introduced in House IntroReferral 1000 9 Library of Congress O000175 Rep. Ogles, Andrew [R-TN-5] Andrew Ogles R TN 5 N B001311 Rep. Bishop, Dan [R-NC-8] Dan Bishop R NC 8 2023-07-27 True D000032 Rep. Donalds, Byron [R-FL-19] Byron Donalds R FL 19 2023-07-27 True G000565 Rep. Gosar, Paul A. [R-AZ-9] Paul Gosar R AZ A. 9 2023-07-27 True G000595 Rep. Good, Bob [R-VA-5] Bob Good R VA 5 2023-08-04 False Finance and Financial Sector Finance and Financial Sector 2023-08-29T20:00:26Z 00 2023-07-27 Introduced in House 2024-06-13T18:17:12Z Cease Orwellian Surveillance and Targeting Act of 2023 or the COST Act of 2023

This bill generally prohibits the issuance or ownership of central bank digital currencies. A central bank digital currency is a digital currency issued by a government-backed central bank.

Under the bill, the Board of Governors of the Federal Reserve System and the Federal Reserve banks are prohibited from minting or issuing a central bank digital currency. In addition, a Federal Reserve bank is prohibited from offering products or services directly to an individual or entity, providing coins or currency directly to an individual or entity, or maintaining an account on behalf of an individual or entity, with some exceptions.

Further, no person is allowed to hold or own central bank digital currency belonging to the United States or a foreign country.  

]]> Cease Orwellian Surveillance and Targeting Act of 2023 Display Title 45 Cease Orwellian Surveillance and Targeting Act of 2023 2024-07-24T15:20:47Z Short Title(s) as Introduced 101 Cease Orwellian Surveillance and Targeting Act of 2023 2024-05-24T13:37:22Z Introduced in House IH Official Title as Introduced 6 To amend the Federal Reserve Act to prohibit the issuance of a central bank digital currency, to prohibit Federal reserve banks from offering certain products or services, to prohibit holding or owning central bank digital currencies of any country, and for other purposes. 2024-03-18T21:14:59Z Introduced in House IH Introduced in House 2023-07-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr5032ih/xml/BILLS-118hr5032ih.xml 2023-07-27 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.