U.S. House Committee Approves Bill to Block Federal CBDC

House Committee Pushes Forward Anti-CBDC Bill Backed by Tom Emmer

On April 3, 2025, the U.S. House Financial Services Committee passed the Anti-CBDC Surveillance State Act in a 27–22 vote, signaling growing opposition to a federal central bank digital currency (CBDC). The bill, spearheaded by Majority Whip Tom Emmer, would prevent the Federal Reserve from issuing a digital dollar without direct congressional authorization. Emmer argues the legislation is necessary to protect privacy and civil liberties, framing the CBDC debate as a matter of financial freedom vs. government surveillance.

“If not designed to be open, permissionless, and private – resembling cash – a government-issued CBDC is nothing more than an Orwellian surveillance tool,” Emmer stated 

The bill has backing from key Republicans including Patrick McHenry, and advocacy groups like the Heritage Foundation, who support privacy-first financial systems.

Opposition Warns of Stifled Innovation

Democratic members largely opposed the measure, warning it could hamstring financial innovation and prevent the U.S. from staying competitive in the race for digital currencies. Despite previous similar bills stalling in the Senate, the new vote reopens a high-stakes policy debate around the future of money in the U.S., privacy rights, and the role of the Federal Reserve in digital finance. 

Impact on Bitcoin, Ethereum, and Dollar Dominance

The bill may indirectly benefit decentralized assets like Bitcoin and Ethereum, as it slows down the government’s adoption of a centralized digital alternative. Analysts suggest that while the legislation protects against potential surveillance, it could reduce the dollar’s long-term competitiveness, especially as nations like China advance their own CBDC programs. The bill’s passage could have a “chilling effect” on public-sector blockchain innovation, while support for decentralized currencies may accelerate due to concerns over state control.

Bitcoin Sees Modest Dip Amid Broader Uncertainty

As of now, Bitcoin is trading at $82,444, reflecting:

📉 -0.88% decline in 24 hours.

📉 -2.91% over the past 7 days.

📊 24h trading volume: $39.05B, down 26.96%.

While the drop coincides with broader market volatility, analysts see legislative shifts like this one influencing crypto sentiment in the U.S. for the remainder of the year.