Prohibition of Central Bank Digital Currency and Direct Banking Services.
This bill aims to prohibit the Federal Reserve from creating and issuing a central bank digital currency. Citizens will not be allowed to hold or use central bank digital currencies, whether US or foreign. Additionally, Federal Reserve banks will be barred from offering direct banking services or maintaining accounts for individuals and entities, meaning your banking relationships will remain with traditional banks.
Key points
No Federal Reserve-issued digital currency: You will not be able to use a digital currency directly from the central bank.
Ban on holding central bank digital currencies: Citizens will not be allowed to hold or use digital currencies issued by central banks, including foreign ones.
No direct banking services from the Federal Reserve: The Federal Reserve will not offer accounts or banking services directly to individuals and businesses, meaning you will continue to use commercial bank services.
Status:
Expired
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