Prohibiting Central Bank Digital Currency for US Citizens
This bill aims to prevent Federal Reserve banks, the Treasury, and other agencies from issuing digital currency directly to individuals. This means the U.S. government would not be able to create or manage digital money accounts for people, impacting how citizens might use government-issued digital money in the future.
Key points
Federal Reserve banks are prohibited from issuing central bank digital currency directly to individuals.
The U.S. government cannot open or maintain digital currency accounts for individuals.
This prohibition also extends to intermediaries, meaning CBDC cannot be issued to individuals even through them.
Status:
Expired
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