HR10017Referred to Committee

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.

Introduced

In Committee

Passed One Chamber

Passed Both

Signed into Law

119th

Congress

2026-08-03

Introduced

Cosponsors

ⓘ

Type

Sponsor

Michael Cloud

Republican · TX · Representative

Votes with party: 88.1% (632 recorded votes)

Full profile: /officials/C001115

Source: Congress.gov · FEC

Cosponsors (30)

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.

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