House passes CBDC Anti-Surveillance State Act with limited bipartisan support 

Three Democrats joined Republicans Thursday in supporting a bill that would block the Federal Reserve from issuing a retail CBDC


US Rep Tom Emmer | Al Mueller/Shutterstock modified by Blockworks


The US House of Representatives on Thursday passed the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act in a vote of 216-192. The bill aims to block the Federal Reserve from directly offering a CBDC to individuals and using it to implement monetary policy. 

Three Democrats — Reps. Mary Peltola from Alaska, Marie Perez of Washington and Jared Golden of Maine — voted in favor of the bill. No Republicans voted against the legislation. 

The bill, introduced in September by Rep. Tom Emmer, R-Minn., had earned 165 cosponsors, all of which are Republican, by the time the House voted on Thursday afternoon. 

“My legislation ensures that the United States’ digital currency policy remains in the hands of the American people so that any development of digital money reflects our values of privacy, individual sovereignty, and free market competitiveness,” Emmer said in a statement on X after the vote. 

Emmer first introduced a version of the bill in February 2023. 

“This bill puts a check on unelected bureaucrats and ensures the US digital currency policy upholds our American values of privacy, individual sovereignty, and free-market competitiveness,” Emmer said in September. 

The bill now heads to the Democrat-controlled Senate, which recently passed joint resolution 109, an effort that, should the president sign off, would overturn the Security and Exchange Commission’s staff accounting bulletin (SAB) 121. 

Emmer’s CBDC bill marks the second piece of crypto-focused legislation to pass in the House this week. Representatives on Wednesday evening passed the Financial Innovation and Technology for the 21st Century Act, known as the FIT21 Act, with two amendments. FIT21 advances to the Senate after 71 House Democrats opted to vote in favor of the bill.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Unlocked by Template.png


With the spot ETH ETF approval, the institutions are coming. stETH - given its dominance in marketshare, existing liquid market structures, and highly desirable properties - is poised for institutions.


Launching cryptocurrencies the old fashioned way may soon make a return


Kraken and CertiK brought their beef to social media after Kraken said researchers exploited $3 million through a bug


NVIDIA’s historic run is only deepening the divide between mega-cap tech stocks and the rest of the market.


EIP-7702 was quickly adopted for the next Ethereum upgrade, but developers haven’t quite locked it down