Prohibiting Central Bank Digital Currency (CBDC) for Individuals
This bill aims to prevent Federal Reserve banks, the Treasury Department, and other agencies from issuing a central bank digital currency (CBDC) directly to individuals. This means the government would not be able to create or manage digital money accounts for private citizens, impacting financial privacy and control over money.
Key points
Federal Reserve banks will be prohibited from issuing digital currency directly to individuals.
The government will not be able to maintain digital accounts for individuals.
The bill seeks to protect financial privacy from potential government control over digital money.
Status:
Introduced
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