H.R. 3633 bill: Regulating cryptocurrencies and banning central bank digital currency
The U.S. Congress is introducing a historic bill to regulate digital assets and ban central bank digital currency
In a notable legislative step that reflects major shifts in the U.S. financial landscape, the U.S. Senate has put forward a bill numbered H.R. 3633 as part of the 119th Congress, second session, under legislative calendar number 423.
Legislative context
The bill was received in the U.S. Senate on September 18, 2025 (Legislative Day 16 on September 18, 2025), and was referred to the Committee on Banking, Housing, and Urban Affairs. On June 1, 2026, Senator Scott of South Carolina reintroduced it with an attached amendment requiring the removal of the original text after the executive section and replacing it with the amended text printed in italics.
Key axes of the bill
The bill includes three main axes:
Regulating digital commodities: The bill creates a comprehensive regulatory framework for the offering and sale of Digital Commodities. Oversight is shared by two of the most prominent U.S. regulatory bodies, namely:
Securities and Exchange Commission (SEC)
Commodity Futures Trading Commission (CFTC)
Restricting the powers of Federal Reserve banks: The bill seeks to amend the Federal Reserve Act in a way that limits the ability of Federal Reserve banks to directly provide certain products or services to individuals. This is intended to separate the regulatory role from the service role of central banks.
Banning Central Bank Digital Currency (CBDC) as a monetary policy tool: This item is the most controversial, as the bill includes an explicit ban on using the central bank’s digital currency (CBDC) as a tool of monetary policy, indicating serious legislative concerns about granting monetary authorities broad regulatory powers through government-issued digital currencies.
Importance and implications
This bill comes amid a growing U.S. and international debate about the future of digital money and the limits of the state’s authority over financial systems. Supporters argue that regulating digital commodities is an inevitable necessity to protect investors and ensure market stability, while the CBDC ban clause embodies the concerns of a broad segment of U.S. lawmakers about the expansion of government financial oversight and the violation of citizens’ financial privacy.
*Follow the latest legislative developments related to regulating digital assets in the states*
United to understand its impact on cryptocurrency markets.*
#GillibrandCallsForDigitalAssetEthicsBan
#COMEXGoldSettlesUp1.49%At$4187.3