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HR 5032 118th Congress House Finance and Financial Sector

Cease Orwellian Surveillance and Targeting Act of 2023

Introduced: August 4, 2023 Introduced by: Ogles, Andrew Republican · Tennessee See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 2023
Referred to the House Committee on Financial Services.
Jul 27, 2023
Introduced in House
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 Plain-English summary Congressional Research Service

Cease Orwellian Surveillance and Targeting Act of 2023 or the COST Act of 2023

This bill generally prohibits the issuance or ownership of central bank digital currencies. A central bank digital currency is a digital currency issued by a government-backed central bank.

Under the bill, the Board of Governors of the Federal Reserve System and the Federal Reserve banks are prohibited from minting or issuing a central bank digital currency. In addition, a Federal Reserve bank is prohibited from offering products or services directly to an individual or entity, providing coins or currency directly to an individual or entity, or maintaining an account on behalf of an individual or entity, with some exceptions.

Further, no person is allowed to hold or own central bank digital currency belonging to the United States or a foreign country.  

What's happening now July 27, 2023

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Republican 2
Good, Bob
· Aug 4, 2023
Bishop, Dan
· Jul 27, 2023
 R
Donalds, Byron
Florida · Jul 27, 2023
 R
Gosar, Paul A.
Arizona · Jul 27, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5032: Cease Orwellian Surveillance and Targeting Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-5032/
MLA
"H.R. 5032: Cease Orwellian Surveillance and Targeting Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-5032/.
Bluebook (legal)
H.R. 5032, 118th Cong. (2026), https://openamerica.io/bill/118-HR-5032/.
Markdown link
[H.R. 5032: Cease Orwellian Surveillance and Targeting Act of 2023](https://openamerica.io/bill/118-HR-5032/)
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