Govwatch

Introduced

In Committee

3

Passed One Chamber

4

Passed Both

5

Signed into Law

Sponsor

Michael Cloud

Republican · TX · Representative

Votes with party: 87.5% (663 recorded votes)

Full profile: /officials/C001115

Source: Congress.gov · FEC

Cosponsors (33)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Financial Services.

2026-08-03

Source: Congress.gov

Committee Activity

Currently in

House Committee on Financial ServicesReferred To · 2026-08-03

Plain-English Summary

The federal government would be permanently banned from creating a digital version of the U.S. dollar that would be issued and controlled by the Federal Reserve. This would prevent the Federal Reserve from developing a central bank digital currency (CBDC) that could potentially replace or compete with physical cash and traditional banking. The restriction would affect the Federal Reserve's ability to modernize the nation's payment system and would apply to all future attempts to create such a digital currency.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Finance and Financial Sector

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 10017 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 10017 To permanently prohibit the Board of Governors of the Federal Reserve System or a Federal reserve bank from issuing or creating a central bank digital currency, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES August 3, 2026 Mr. Cloud (for himself, Mr. Donalds, Mr. Messmer, Mr. Roy, Mr. Carter of Georgia, Mr. Moore of Alabama, Mr. Perry, Mr. Clyde, Mr. McCormick, Mr. Steube, Mr. Self, Ms. Mace, Mr. Ogles, Mr. Harrigan, Mr. Van Epps, Mrs. Biggs of South Carolina, Ms. Boebert, Mr. Moore of West Virginia, Mr. Van Orden, Mr. Cline, Mr. Davidson, Mr. Crane, Mr. Taylor, Mr. Bacon, Mr. McDowell, Mr. Stutzman, Ms. Hageman, Mr. Gosar, Mr. Burlison, Mr. Higgins of Louisiana, and Mrs. Harshbarger) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To permanently prohibit the Board of Governors of the Federal Reserve System or a Federal reserve bank from issuing or creating a central bank digital currency, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Permanent CBDC Ban Act''. SEC. 2. PERMANENT PROHIBITION. Section 16A of the Federal Reserve Act is amended by striking subsection (d) and redesignating subsection (e) as subsection (d). <all>

Open clean-text view Read on Congress.gov →

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