Sec. 2. Prohibition on Federal reserve banks relating to certain products or services for individuals and prohibition on directly issuing a central bank digital currency

70 words·~1 min read·/bill/118/s/3801/is/section-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 16 of the Federal Reserve Act ( 12 U.S.C. 411 et seq. ) is amended by adding at the end the following: No Federal Reserve bank shall offer products or services directly to an individual, maintain an account on behalf of an individual, or issue a central bank digital currency, or any digital asset that is substantially similar, under any other name or label, directly to an individual. .

Connectionstraces to 1

Traces to 1 document

U.S. Code

Issuance to reserve banks; nature of obligation; redemption
§ 411

Citation graph

cites case law

Sec. 2

Prohibition on Federal reserve banks relating to certain products or services for individuals and prohibition on directly issuing a central bank digital currency

U.S.C.§ 411

Cites 1Cited by 0 across 0 sources