The U.S. House of Representatives has included a provision banning the Federal Reserve from issuing central bank digital currency (CBDC) in a nearly 1,300-page bill that sets the defense policy for fiscal year 2026.
The House Rules Committee shared the revised HR 3838 on Thursday—the House version of the National Defense Authorization Act—containing comprehensive language prohibiting the Federal Reserve from researching or creating digital currency.
In July, the House passed a similar Republican-backed bill, the "Anti-CBDC Surveillance State Act," by a narrow margin of 219 votes to 210, though its prospects in the Senate remain unclear.
The National Defense Authorization Act and related appropriations bills are viewed as "must-pass" national security legislation, as they outline funding sources and budget expenditures for the military.
Lawmakers often include non-defense-related provisions in these bills, which might be shelved or significantly revised if passed as standalone legislation.
House Republican leaders committed in July to include the CBDC ban in this must-pass military spending bill as part of an agreement with conservative hardliners.
A group of Republican opponents refused to advance three cryptocurrency bills unless the CBDC ban was guaranteed, leading to a delay of over nine hours in the vote to set up the bill debate, marking the longest record in House history.
At that time, it was considered unlikely that the House would pass a standalone CBDC ban bill due to a lack of support. The debate on the bill was ultimately able to proceed after House Majority Leader Steve Scalise indicated that the CBDC ban would be included in the National Defense Authorization Act.
The House later narrowly passed the CBDC ban bill separately, which now faces uncertain prospects in the Senate.
The provision in the defense policy bill will prohibit the Federal Reserve from issuing any digital currency or asset and prevent the central bank from directly providing financial products or services to individuals.
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The provision adds that the central bank may not "test, research, develop, create, or implement" digital currency or assets, but makes an exception for stablecoins, stating that the bill does not prohibit "any open, permissionless, and private dollar-denominated currency."
House Republicans have been seeking to ban CBDC.
The party's House leaders had sought to pass a version of the CBDC ban bill during the last Congress.
A similar bill titled the "CBDC Anti-Surveillance State Act" was introduced by Representative Tom Emmer in early 2023 but made no progress and died with the end of the last Congress.
Emmer reintroduced a version of the bill in the current Congress, with Republicans supporting this effort, believing it aligns with President Donald Trump's executive order banning CBDC issued in January.
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Original article: “U.S. House Adds CBDC Ban to Must-Pass Defense Bill”
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