Bill would stop the Federal Reserve from making digital money.
H.R. 10017 — Permanent CBDC Ban Act · Filed by Michael Cloud (R-TX) · 33 cosponsors · Introduced Aug 3, 2026 · Referred to committee
Your members of Congress
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What it does
This bill stops the Federal Reserve from creating digital money. It removes the part of the Federal Reserve Act that allows this. The ban is permanent. Congress would need to pass a new law to change it.
Who it affects
The Federal Reserve loses the power to create digital currency. Banks, payment companies, and people who use money are affected. Private companies can still make their own digital money.
One thing to notice
The bill locks in a choice about money policy. Congress would need a new law to unlock it later.
From the analysis of the bill text, linked under Primary records below.
Where it stands
33 cosponsors: 33 Republicans.
- Aug 3, 2026 — Introduced · Congress.gov: “Introduced in House”
- Aug 3, 2026 — Referred to House Committee on Financial Services · Congress.gov: “Referred to the House Committee on Financial Services”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- Federal Reserve Act — The law that sets up and controls the Federal Reserve.
- Federal Reserve — The central bank of the United States that manages money.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (219 characters) on Aug 12, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 14,707 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-09-23.
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