H.R. 5403, known as the "CBDC Anti-Surveillance State Act," aims to amend the Federal Reserve Act to restrict the Federal Reserve banks from offering products or services directly to individuals and from issuing a central bank digital currency (CBDC). It prohibits the use of...
Simple Explanation
H.R. 5403 is a bill that says the U.S. government cannot use a special kind of digital money called "central bank digital currency" or CBDC, to make rules about money without first asking permission from Congress. It also makes sure that this money can't be given to people directly and must keep people's money secret and safe.