Anti-CBDC Surveillance State Act

This bill, titled the Anti-CBDC Surveillance State Act, would dramatically constrain the Federal Reserve's involvement with consumer financial products and any form of central bank digital currency (CBDC). Specifically, it would bar Federal Reserve Banks from offering financial products or services directly to individuals, prohibit them from maintaining individual accounts, and forbid issuing CBDC or similar digital assets. It would also prohibit federally supervised intermediaries from distributing CBDC indirectly to individuals. The bill further bans testing, studying, developing, or implementing a CBDC or using CBDC for monetary policy, while creating an exception for a private, open, and privacy-preserving dollar-denominated currency. A "sense of Congress" provision states that Congress has not authorized the Fed to issue CBDC and would need legislative authorization to do so. In short, the act aims to stop the Fed from operating consumer banking services or a CBDC, restrict its ability to pursue CBDC-based monetary policy, and preserve the option for private, privacy-protecting dollar currencies only if they meet specific openness and privacy criteria.