measures may in no way impair, restrict, or otherwise 
limit the ability of the public to access, hold, and use e- 
cash. 
SEC. 4. ELECTRONIC CURRENCY INNOVATION PROGRAM. 
(a) IN GENERAL.—The Secretary shall establish the 
Electronic Currency Innovation Program to direct, over-
see, coordinate, and harmonize the development, imple-
mentation, maintenance, and regulation of e-cash instru-
ments, devices, technologies, platforms, and supporting 
and enabling infrastructure in accordance with the tech-
nical and policy criteria established by this Act. 
(b) DIRECTOR.— 
(1) APPOINTMENT.— 
(A) IN GENERAL.—The head of the ECIP 
shall be the Director, who shall be appointed by 
the President, by and with the advice and con-
sent of the Senate. 
(B) TERM.—The term of the Director is 5 
years. 
(C) REMOVAL.—The President may re-
move the Director from office. On removal, the 
President shall send a message to the Senate 
giving the reasons for removal. 
(D) INTERIM DIRECTOR.—When a Direc-
tor has not yet been confirmed or appointed, 
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the Secretary may, subject to the consent of the 
President, appoint an Interim Director, who 
shall enjoy the full powers and privileges of the 
Director as established under this Act until 
such time as a permanent Director is confirmed 
and appointed. In the event neither a Director 
or Interim Director is appointed, all responsibil-
ities and duties assigned to the Director under 
this Act shall be assumed by the Secretary. 
(2) DUTIES
AND
POWERS.—The duties and 
powers of the Director are as follows: 
(A) Promote innovation in, and ensure the 
successful 
implementation 
and 
widespread 
adoption of, e-cash instruments, devices, tech-
nologies, platforms, and supporting and ena-
bling infrastructure in accordance with this Act, 
by— 
(i) directing, conducting, sponsoring, 
and publishing research; 
(ii) generating, collecting, analyzing, 
and publishing data; 
(iii) acquiring, developing, dissemi-
nating, and sharing open-access tech-
nologies and technical knowledge; 
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(iv) developing and administering e- 
cash pilot programs, both individually and 
in partnership with other actors and enti-
ties that the Secretary determines appro-
priate; 
(v) promulgating, and enforcing rules, 
objectives, standards, and criteria per-
taining to the development and implemen-
tation of e-cash instruments, devices, tech-
nologies, platforms, and supporting and 
enabling infrastructure, as well as the 
issuance, dissemination, circulation, stor-
age, and use of e-cash, including its use in 
transactions; 
(vi) coordinating with other actors, in-
cluding other departments, branches, agen-
cies, and instrumentalities of the United 
States Government, as well as State, local, 
and foreign governments and international 
regulatory bodies, in furtherance of the 
general goals of this Act; and 
(vii) developing and disseminating 
public educational materials and con-
ducting public educational campaigns to 
foster awareness and understanding of e- 
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cash and its economic and social signifi-
cance in the broader monetary system. 
(B) Such other duties and powers as the 
Secretary may delegate or prescribe. 
(c) STAFF, EQUIPMENT, AND FACILITIES.—The Di-
rector shall be authorized to hire staff, purchase equip-
ment, and rent or acquire facilities as the Director deter-
mines to be appropriate to achieve the goals and objectives 
established under this Act, subject to the approval of the 
Secretary. 
(d) PILOT PROGRAMS.— 
(1) ESTABLISHMENT.— 
(A) IN GENERAL.—Not later than 90 days 
after the enactment of this Act, the Director 
shall initiate a two-phase e-cash pilot program 
in anticipation of general deployment of e-cash 
to the public not later than forty-eight months 
after the date of enactment of this Act. 
(B) PHASE 1.—Phase 1 of the pilot pro-
gram shall consist of not less than three dis-
tinct pilots (in this section referred to as 
‘‘Proof-of-Concept Pilots’’), each of which shall 
launch no later than 180 days after the date of 
enactment of this Act, and run for no longer 
than 360 days thereafter. 
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(C) PHASE 2.—Phase 2 of the pilot pro-
gram shall consist of at least one large-scale de-
ployment to a segment of the public (in this 
section referred to as ‘‘Field Test Pilots’’), 
which shall launch no later than 2 years after 
the enactment of this Act, and run for no 
longer than 2 years thereafter. 
(D) EXTENSION OF TIMELINES FOR PILOT 
PROGRAMS.—The timelines for the implementa-
tion of the two phases of the e-cash pilot pro-
gram described in this paragraph may be ex-
tended upon a determination by the Director 
that such an extension is necessary to ensure 
the security and integrity of the technologies to 
be piloted in the program. 
(2) ADMINISTRATION.— 
(A) IN
GENERAL.—The pilot programs 
shall be administered by the Director, in coordi-
nation with the Digital Dollar Council, and sub-
ject to the ongoing oversight and review of the 
Monetary Privacy Board. 
(B) PROOF-OF-CONCEPT
PILOTS.—Proof- 
of-Concept Pilots may be conducted— 
(i) in partnership with one or more 
universities, non-profit entities, insured fi-
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