Legislative Activity

The "Anti-CBDC Surveillance State Act" prohibits Federal Reserve Banks from offering financial products or services directly to individuals, maintaining accounts for individuals, or issuing a central bank digital currency (CBDC) directly or indirectly. It also blocks the Federal Reserve from testing, creating, or implementing a CBDC, or using it to implement monetary policy, without explicit congressional authorization. The bill clarifies that these restrictions do not apply to digital versions of the dollar that are open, permissionless, and private, like physical currency.

The Securities Clarity Act of 2025 clarifies that certain digital assets, referred to as "investment contract assets," are not considered securities under existing securities laws. These assets are defined as fungible, digitally-represented values that can be directly owned and transferred without an intermediary, recorded on a public, secured ledger, and sold under an investment contract, provided they do not otherwise qualify as securities. This act amends several key securities laws to reflect this distinction.

The Firearm Due Process Protection Act aims to protect individuals' Second Amendment rights by ensuring due process in firearm-related matters. It allows individuals affected by Brady Handgun Violence Prevention Act violations to take legal action, shifting the burden of proof to the government to justify denying firearm ownership. Additionally, it mandates the FBI to provide annual reports to Congress on the challenges to the accuracy of NICS records. The Act reinforces the importance of due process in protecting the right to bear arms.

The CFPB Dual Mandate and Economic Analysis Act would modify the Consumer Financial Protection Bureau's (CFPB) objectives to focus on "fair and transparent" markets, removing "competitive," and aim to strengthen private sector participation, increase competition, and enhance consumer choice. It establishes an Office of Economic Analysis within the CFPB to review and assess the impact of the Bureau's actions on consumer choice, price, and access to credit, as well as review existing rules to measure their success. The CFPB Director must consider these assessments before issuing any guidance or regulations and must provide a written explanation if disagreeing with the Office's assessment. The director will also need to identify the problem each proposed rule or regulation aims to solve and specify the metrics for measuring the rule's success.