Congress moves to permanently block Fed from issuing digital currency
H.R. 10017 — Permanent CBDC Ban Act · Filed by Michael Cloud (R-TX) · 31 cosponsors · Introduced Aug 3, 2026 · Referred to committee
Your members of Congress
Enter a ZIP to see where your representative and both senators stood on this bill.
Looked up on this device — your ZIP is never stored on our servers.
What it does
This bill permanently prohibits the Federal Reserve from issuing or creating a central bank digital currency (CBDC). It does so by striking a subsection of the Federal Reserve Act that currently permits or regulates CBDC issuance, eliminating the Fed's authority to develop digital currency. Citizens benefit by retaining the current payment system structure; opponents argue it forecloses a potential modernization tool.
Why we flagged it
The bill's sole operative mechanism is a permanent statutory bar on Federal Reserve authority to issue CBDC. It is a straightforward prohibition, not a subsidy, carve-out, or procedural measure.
What the text implies
- Permanently forecloses future Congressional reconsideration of CBDC without passing new legislation to repeal this ban, raising the bar for any future digital currency policy.
- May affect the Fed's ability to participate in international CBDC coordination or interoperability standards, potentially limiting U.S. influence in global digital payment infrastructure.
The full analysis lists 3 implications of this text.
Who stands to gain
cryptocurrency and blockchain companies; private stablecoin issuers; traditional payment processors and banking networks