Permanent CBDC Ban Act
Latest action (3 Aug 2026): Introduced
What this bill does
H.R. 10017, the "Permanent CBDC Ban Act," would amend Section 16A of the Federal Reserve Act to make permanent the existing prohibition on the Federal Reserve Board of Governors or any Federal Reserve bank issuing or creating a central bank digital currency (CBDC). Specifically, the bill strikes subsection (d) of that section and renumbers the current subsection (e) as subsection (d), a technical change that, per the bill's stated purpose, removes any limitation on the duration of the existing ban so that it applies without expiration.
The bill primarily affects the Federal Reserve System, which would be barred on a permanent basis from developing or issuing a digital form of the U.S. dollar. It would also indirectly affect the broader public and financial sector, since it forecloses the option of a Fed-issued digital currency as a policy tool, a matter of ongoing debate regarding privacy, monetary policy, and the role of private cryptocurrencies and stablecoins.
The bill was introduced on August 3, 2026, by Rep. Michael Cloud (R-TX) along with numerous cosponsors, and referred to the House Committee on Financial Services. As an introduced bill, it has not yet been considered or voted on by the committee, the full House, or the Senate, and would need to pass both chambers and be signed by the President to become law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill is in the first stage of the legislative process. It was introduced into Congress on August 3, 2026. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Common questions
- What does H.R. 10017 do?
- H.R. 10017, the "Permanent CBDC Ban Act," would amend Section 16A of the Federal Reserve Act to make permanent the existing prohibition on the Federal Reserve Board of Governors or any Federal Reserve bank issuing or creating a central bank digital currency (CBDC). Specifically, the bill strikes subsection (d) of that section and renumbers the current subsection (e) as subsection (d), a technical change that, per the bill's stated purpose, removes any limitation on the duration of the existing ban so that it applies without expiration. The bill primarily affects the Federal Reserve System, which would be barred on a permanent basis from developing or issuing a digital form of the U.S. dollar. It would also indirectly affect the broader public and financial sector, since it forecloses the option of a Fed-issued digital currency as a policy tool, a matter of ongoing debate regarding privacy, monetary policy, and the role of private cryptocurrencies and stablecoins. The bill was introduced on August 3, 2026, by Rep. Michael Cloud (R-TX) along with numerous cosponsors, and referred to the House Committee on Financial Services. As an introduced bill, it has not yet been considered or voted on by the committee, the full House, or the Senate, and would need to pass both chambers and be signed by the President to become law.
- Has H.R. 10017 become law?
- Not yet. As of 3 Aug 2026, H.R. 10017 is introduced.
- Who sponsored H.R. 10017?
- H.R. 10017 was sponsored by Rep. Michael Cloud [R-TX27] (Republican-TX), with 33 cosponsors.
- What's the latest action on H.R. 10017?
- Introduced (3 Aug 2026).
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