Rep. Keith Self Moves to Ban Federal Reserve Digital Dollar

Rep. Keith Self has filed an amendment to the NDAA to ban the Federal Reserve from developing a CBDC, citing privacy and freedom concerns. The proposal awaits review by the House Rules Committee.

Representative Keith Self has introduced an amendment to the National Defense Authorization Act (NDAA) seeking to ban the Federal Reserve from creating, testing, or implementing a central bank digital currency (CBDC) or any similar digital asset. The amendment, titled the “Anti-CBDC Surveillance State” proposal, also prohibits the Federal Reserve from offering direct financial services or accounts to individuals. This move follows complaints from lawmakers about broken promises to include anti-CBDC language in the NDAA, with several Republicans expressing concerns that a government-backed digital currency could enable financial surveillance and restrict individual freedoms. The amendment aims to permanently block the development of a U.S. CBDC, citing privacy and liberty concerns, and is positioned as a legal safeguard against future government overreach. The proposal must first be approved by the House Rules Committee before advancing to a full House vote, intensifying the ongoing debate over digital currency, privacy, and government control.