Federal Reserve Ban: No Direct Accounts or Digital Currency for Individuals.
This bill aims to maintain the current banking structure where citizens interact with commercial banks, not the central bank. If passed, the Federal Reserve would be prohibited from offering individual bank accounts or issuing a central bank digital currency (CBDC) directly to the public. This ensures that any future digital currency would need to be distributed through existing financial institutions.
Key points
The Federal Reserve (US central bank) is prohibited from opening bank accounts or offering services directly to individuals.
The bill specifically blocks the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) directly to the public.
Status:
Expired
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