Save Your Bank Account Bill, Now Law

WASHINGTON, D.C.— Today, the America First Policy Institute (AFPI) released the following statement after the passage of legislation that stops the federal government from monitoring and controlling Americans’ money via Central Bank Digital Currency (CBDC): 

“The America First Policy Institute is proud to lead the effort to restore financial freedom. A Central Bank Digital Currency has been an enormous threat to our community banking system and to the dynamism of small businesses. The four-year ban curbing this egregious bureaucratic overreach, included in the Housing bill, codifies President Trump’s executive order and is the result of the tireless efforts of President Trump and dozens of other America First patriots in Congress. This provision finally puts a stop to the federal government monitoring and controlling our money via CBDCs and reasserts that only Congress can authorize and regulate forms of exchange.” 

BACKGROUND

A four-year ban on CBDCs, which has been a long-time AFPI policy priority, was introduced initially in the 118th Congress by Majority Whip Tom Emmer (MN-06) in the House and had 165 cosponsors. Senator Ted Cruz (R-TX) introduced a companion bill in the Senate. The bill passed the House during the 118th Congress and was reintroduced in both chambers again in the 119th Congress. It was included as an amendment to the Housing bill and was passed into law on July 11. The CBDC Anti-Surveillance State Act will prevent the issuance of a CBDC without congressional authorization. The bill codifies President Trump’s executive order concerning weaponized government. 

Financial Freedom has been an AFPI priority issue since 2023, as a government-run digital currency could track Americans’ financial activities in real-time, functioning like a social credit system used to punish political adversaries. AFPI research includes a release, research report, fact sheet, statement, save your bank account release, stakeholder support, and is highlighted in AFPI’s “Early America First Wins to Expect in Congress,” which was published in early 2025.