WASHINGTON – Yesterday, Congressman Byron Donalds (R-FL) voted to pass a landmark financial services package that blocks the formation of Central Bank Digital Currency (CBDC) in America and creates a clear framework for the growing proliferation of digital assets.

The legislative package included three bills: (1) H.R. 3633 – "The CLARITY ACT," (2) S. 1582 – "The GENIUS Act," (3) H.R. 1919 – "The Anti-CBDC Surveillance Act." While H.R. 3633 and H.R. 1919 advanced to the U.S. Senate for consideration, this afternoon, S. 1582 was signed into law by President Trump. Congressman Donalds released the following statement:

"Central Bank Digital Currency would give unelected bureaucrats in our federal government absolute control over your money. This is wrong, this is a dangerous threat to freedom, this is un-American, and immediate action had to be taken. I am proud to have joined my colleagues in voting to block this globalist tyranny from infiltrating our nation and ensure there's a clear framework for the proliferation of digital assets in America."

Background on H.R. 3633 – "The CLARITY Act":

• Passed the U.S. House of Representatives with a vote of 294-134.
• The CLARITY Act, sponsored by House Committee on Financial Services Chairman French Hill (AR-02) and House Committee on Agriculture Chairman G.T. Thompson (PA-15) was introduced on May 29, 2025. The bill advanced out of both Committees with bipartisan support on June 10, 2025. The CLARITY Act establishes clear, functional requirements for digital asset market participants, prioritizing consumer protection while fostering innovation. By providing strong safeguards and long-overdue regulatory certainty, this legislation advances U.S. innovation and reinforces U.S. leadership in the global financial system.
• Read the full text of the legislation HERE.
• See Congress.gov bill profile HERE.

Background on S. 1582 – "The GENIUS Act":

• Passed the U.S. House of Representatives with a vote of 308-122.
• Signed-into law by President Trump on July 18, 2025.
• The GENIUS Act, introduced by Senator Bill Hagerty (R-TN), provides a clear regulatory framework for the issuance of payment stablecoins, a payment product that is currently offered in the United States with little, if any, federal oversight. The GENIUS Act prioritizes consumer protection, fosters innovation, and strengthens the U.S. dollar’s reserve currency status. The GENIUS Act passed the U.S. Senate by a bipartisan vote of 68-30 on June 17, 2025.
• Read the full text of the legislation HERE.
• See Congress.gov bill profile HERE.

Background on H.R. 1919 – "The Anti-CBDC Surveillance Act":

• Passed the U.S. House of Representatives with a vote of 219-210.
• The Anti-CBDC Surveillance State Act, sponsored by House Majority Whip Tom Emmer (MN-06), prohibits unelected bureaucrats in Washington, D.C. from issuing a Central Bank Digital Currency (CBDC) that undermines Americans’ right to financial privacy. Unlike decentralized digital assets, CBDCs are digital forms of sovereign currency issued and controlled by government, with transactions occurring on a government-managed ledger. In short, a CBDC is government-controlled, programmable money that, if not designed to mimic cash, could provide the federal government with detailed transaction data on individual users and the ability to program the CBDC to suppress politically unpopular activities.
• Read the full text of the legislation HERE.
• See Congress.gov bill profile HERE.