US House CBDC Ban Weighed in Market Structure Bill

September 17, 2025 — The US House of Representatives may fold a central bank digital currency (CBDC) ban into its Digital Asset Market Clarity Act. This move could restrict the Federal Reserve from issuing a digital dollar retroactively.

House Considers Engrossment Strategy

The House Rules Committee agenda on Monday showed plans to include the Anti-CBDC Surveillance State Act within the existing market structure bill. This technique, known as engrossment, would package both measures into one bill before sending it to the Senate.

The CBDC measure passed the House narrowly in July, with Republicans warning of potential surveillance risks tied to a digital dollar. Lawmakers previously debated inserting similar language into the GENIUS Act, which regulates stablecoins, but delayed the move until after recess.

Senate Pursues Distinct Legislation

Even if the House merges its bills, the Senate may remain unaffected. Senate Republicans on the Banking Committee are pursuing their own framework, the Responsible Financial Innovation Act. It builds on the CLARITY Act but follows a separate structure.

Senator Cynthia Lummis, a key backer, said she expects the committee to pass the bill by the end of September. If successful, it could reach President Donald Trump’s desk in 2026.

Political Divides and Uncertainty

Republicans control both chambers but only by slim margins, meaning Democratic support may be essential. Both sides support clearer crypto regulation. Democrats want provisions targeting Trump’s family-linked ventures: American Bitcoin, World Liberty Financial, and a personal memecoin.