H.R. 7231: ECASH Act

117th Congress · introduced 2022-03-28 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

Where it came from: introduced 2022-03-28 · official record
Who proposed it: Rep. Lynch, Stephen F. [D-MA-8] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

ECASH Act

Plain 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.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

ECASH Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Lynch, Stephen F. [D-MA-8] · 4 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Jesús G. "Chuy" García (D-IL), Ayanna Pressley (D-MA), Alma S. Adams (D-NC), Rashida Tlaib (D-MI)

Sponsor's campaign money: Rep. Lynch, Stephen F. [D-MA-8] reported raising $1.1 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117hr7231.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/hr>

Record fed-us-cong117-hr7231 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117