Anti-CBDC Surveillance State Act

# Anti-CBDC Surveillance State Act Summary **What the Bill Would Do** This bill would prevent the Federal Reserve from creating or using a digital version of the U.S. dollar (called a central bank digital currency or CBDC). It would also prohibit the Federal Reserve from offering banking services directly to individuals or maintaining personal accounts. Essentially, it blocks the Federal Reserve from developing what some describe as a "digital dollar" that could exist alongside physical cash. **Who It Affects and Key Provisions** The bill primarily affects the Federal Reserve and the federal government's ability to modernize currency systems.

It includes exceptions for certain activities, though these aren't detailed in the summary provided. Supporters argue the measure protects privacy by preventing potential government surveillance through digital currency tracking, while opponents might contend it limits financial innovation and the Federal Reserve's flexibility in managing the money supply. **Current Status** The bill (S. 1124) was introduced by Senator Ted Cruz (R-TX) in the 119th Congress and is currently in committee, meaning it has not yet been voted on by the full Senate.