Prohibit Fed reserve banks from offering certain product/services directly to individual.
Ban Fed reserve banks from issuing central bank digital currency (CBDC)/substantially similar digital asset to an individual through financial institution or other intermediary.
Board of Governors may not test, study, develop, create, or implement central bank digital currency and may not use the digital currency to implement monetary policy.
May not be construed to prohibit dollar-denominated currency open, permissionless, and private, and fully preserves privacy protections of US coins and physical currency.
Sense of Congress that the Board of Governors of the Federal Reserve does not have the authority to issue central bank digital currency or substantially similar digital asset.
Legislative History
On Mar. 25, 2025, bill introduced in Senate, referred to banking, housing, urban affair.
Regulators
Senate
Entity Types
Bank; BHC; CNSM; SIFI
Reference
PR, 3/26/2025; Bill S. 1124, 3/25/2025; FRA; Citation: *12 USC* 411, 241;
