Prohibition of Central Bank Digital Currency (CBDC) in the US
This act aims to prohibit the Federal Reserve from creating and issuing a central bank digital currency (CBDC) directly to individuals or indirectly through banks. This means your money will remain in its current form, and the government will not have direct access to your financial transactions through such a currency. This protects your financial privacy and prevents the use of CBDC for monetary policy control.
Key points
The Federal Reserve will not be able to offer a central bank digital currency (CBDC) directly to individuals.
Banks will not be able to facilitate the indirect issuance of CBDC by the Federal Reserve.
CBDC cannot be used to implement monetary policy, protecting against excessive government control over the economy.
The act safeguards financial privacy, ensuring digital money is not tracked in a way a CBDC might be.
53%
VOTING RESULTS
2024-05-23
For
216
Against
192
Abstain
0
Status:
Expired
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