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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.
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Expired
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Additional Information
Print number: 117_S_4831
Sponsor: Sen. Lee, Mike [R-UT]
Process start date: 2022-09-13
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

No CBDC Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4831.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-09-13.

What are the main provisions?

Key points include:

  • 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.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Lee, Mike [R-UT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy