{"bill":{"id":"118-hr-5410","congress":118,"type":"HR","number":5410,"title":"ECASH Act","originChamber":"House","introducedDate":"2023-09-12","sponsors":[{"bioguideId":"L000562","fullName":"Rep. Lynch, Stephen F. [D-MA-8]","party":"D","state":"MA","district":8}],"cosponsorsCount":3,"latestAction":{"actionDate":"2023-09-12","text":"Referred to the House Committee on Financial Services."},"policyArea":"Finance and Financial Sector","subjects":[],"actions":[{"date":"2023-09-12","text":"Referred to the House Committee on Financial Services.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2023-09-12","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2023-09-12","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p><strong>Electronic Currency And Secure Hardware Act or the ECASH Act </strong></p><p>This bill requires the Department of the Treasury to support the development of an electronic dollar.</p><p>The electronic dollar must be</p><ul><li>payable to the bearer;</li><li>considered legal tender;</li><li>an obligation of the United States;</li><li>placed into circulation by Treasury;</li><li>able to be directly used by the public; and</li><li>capable of instantaneous, offline transactions using hardware devices not involving a third-party intermediary.</li></ul><p>The bill also provides for privacy requirements applicable to any hardware device used for electronic dollar transactions.</p><p>Merchants who accept physical currency and the federal government must accept electronic dollars as a form of payment. &nbsp;</p><p>The bill also establishes</p><ul><li>the Electronic Currency Innovation Program to direct the development and implementation of electronic currency,</li><li>the Digital Dollar Council to coordinate Treasury's activities with other government entities, and</li><li>the Monetary Privacy Board to review and evaluate the electronic dollar program.</li></ul><p>Finally, the bill provides for the establishment of a Treasury Electronic Currency Innovation Fund Account to carry out related programs.</p>","updateDate":"2024-07-24T15:20:31Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":462,"ts":"2026-04-19T08:25:16.034Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=ECASH%20Act"}]}}