H.R. 10017119th CongressReferred to the House Committee on Financial Services.

Permanent CBDC Ban Act

Introduced: Aug 3, 2026

Latest action: Aug 3, 2026

Latest Action

Referred to the House Committee on Financial Services.

Congress.gov Bill Record ↗Official Bill Text ↗

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Plain-English AI Summary

What this bill means

Generated from the official bill text to make the legislation easier to understand.

Summary Ready

What this bill does

This bill amends the Federal Reserve Act to permanently prohibit the Board of Governors of the Federal Reserve System and Federal Reserve banks from creating or issuing a central bank digital currency (CBDC).

Who it affects

This legislation directly affects the U.S. central banking system, specifically the Federal Reserve Board of Governors and individual Federal Reserve banks.

What would change

* **Prohibition on CBDCs:** The Federal Reserve and Federal Reserve banks would be legally forbidden from creating, developing, or issuing any central bank digital currency. * **Technical Amendments:** The bill updates Section 16A of the Federal Reserve Act by removing existing subsection (d) and renaming subsection (e) as the new subsection (d).

Money or funding

The provided bill summary does not mention any specific spending, appropriations, taxes, or fees.

Important exceptions or limits

The summary does not list any exceptions, conditions, deadlines, or penalties associated with this ban.

Plain-English bottom line

This bill permanently prevents the Federal Reserve from creating or issuing a U.S. central bank digital currency.

This summary was generated by AI from the official bill text. It is intended to make legislation easier to understand and does not replace the original legal language.

AI model: gemini-3.6-flashUpdated: Oct 18, 2026Review official bill text ↗