CONGRESS FOR VOTERS

DemocratBill · H.R. 4438· House(119-HR-4438)

Power of the Mint Act

Rep. Auchincloss
Age: 38 years
Massachusetts
Introduced
7/16/2025
Last activity
7/16/2025 — Referred to the House Committee on Financial Services.
Sponsored by
Jake Auchincloss
Cosponsors
None
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "Power of the Mint Act," aims to prevent the Federal Reserve and the Secretary of the Treasury from creating a central bank digital currency. It establishes that the Board of Governors of the Federal Reserve may not issue such a currency without specific authorization from Congress. Additionally, it prohibits the Secretary of the Treasury from directing the Federal Reserve to issue a central bank digital currency without Congressional approval. The bill defines a central bank digital currency as digital money or monetary value that is a direct liability of the Federal Reserve or the central bank.

Yes· 3 of 5

  • Does this make what the government does easier for the public to see?+2

    The bill increases transparency by requiring legislative debate and approval for new forms of money.

  • Does this make the government pay for what it commits to?+1

    The bill increases fiscal oversight by requiring Congressional approval for new digital currency issuance.

  • Does this give people more protection from unfair business practices?+1

    Preventing unilateral issuance of digital currency may protect consumers from unvetted financial shifts.

The opposite

  • Does this give the federal government more power?-1

    By restricting the Federal Reserve's autonomy, the bill reduces the central authority's power to implement digital currency.