Representative Tom Emmer, the sponsor of the Anti-CBDC Surveillance State Act in the US House, stated that the bill aims to significantly limit the Federal Reserve’s capacity to issue a central bank digital currency (CBDC). In a recent press call, Emmer highlighted the bill, which he introduced in March, suggesting amendments to the Federal Reserve Act to prevent federal banks from issuing digital assets that closely resemble a CBDC. The legislative progress includes three bills that passed the House, among which the GENIUS Act relating to stablecoin regulation has already gained Senate approval. The focus is expected to shift to both Emmer's CBDC bill and the Digital Asset Market Clarity (CLARITY) Act when the Senate reconvenes after its August recess. Republican senators have expressed intentions to tackle the CLARITY Act first, indicating it could be on the agenda before October. There’s additional pressure for the Senate to remain in session during August to address other significant nominations and to advance crypto policy initiatives.

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