US House of Representatives Approves Bill Banning Creation of Digital Dollar

The US House of Representatives has passed the “Anti-CBDC Surveillance State Act,” which prohibits the Federal Reserve (Fed) from developing and issuing a central bank digital currency (CBDC), also known as the “digital dollar.”

The initiative, proposed by Republican Tom Emmer, was supported by a majority vote: 219 in favor, 210 against. The bill officially forbids the Fed from offering digital accounts to retail users and from using CBDC as a tool of monetary policy or as a system for government surveillance over transactions.

“The digital dollar is a threat to Americans’ financial freedom. We will not allow the creation of a surveillance mechanism under the guise of financial innovation,” Emmer stated after the vote.

Democrats opposed the bill, arguing that it hinders technological development and undermines the US’s competitiveness as China and the EU actively develop their own CBDCs.

The bill now moves to the US Senate, where its fate remains uncertain. This vote strengthens the position of the Trump administration, which had previously imposed an executive ban on launching a digital dollar in January 2025.