ECASH Act

Summary

Electronic Currency And Secure Hardware Act or the ECASH Act This bill requires the Department of the Treasury to support the development of an electronic dollar. The electronic dollar must be payable to the bearer; considered legal tender; an obligation of the United States; placed into circulation by Treasury; able to be directly used by the public; and capable of instantaneous, offline transactions using hardware devices not involving a third-party intermediary. The bill also provides for privacy requirements applicable to any hardware device used for electronic dollar transactions. Merchants who accept physical currency and the federal government must accept electronic dollars as a form of payment. The bill also establishes the Electronic Currency Innovation Program to direct the development and implementation of electronic currency, the Digital Dollar Council to coordinate Treasury's activities with other government entities, and the Monetary Privacy Board to review and evaluate the electronic dollar program. Finally, the bill provides for the establishment of a Treasury Electronic Currency Innovation Fund Account to carry out related programs.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 March 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 28 March 2022

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 28 March 2022

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.