To amend the FISA Amendments Act of 2008 to extend the authorities of title VII of the Foreign Intelligence Surveillance Act of 1978, and for other purposes.

The bill has positive implications for the cryptocurrency ecosystem, particularly regarding financial privacy and the stablecoin market. By prohibiting the Federal Reserve from issuing a central bank digital currency without congressional approval, the legislation preempts the potential deployment of a government-controlled digital asset that could expand state surveillance over retail transactions and compete with private-sector options. Furthermore, the explicit exception for open, permissionless, and private dollar-denominated currencies that preserve the privacy protections of physical cash represents a strong statutory defense for decentralized and private stablecoins. This carve-out ensures that private-sector cryptographic innovations can continue to operate and expand without being restricted under the CBDC prohibition. Preventing a state-run CBDC while safeguarding permissionless alternatives supports the growth of decentralized financial networks and protects transaction privacy.