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Code · BILL · 118th Congress · S. 3801 (Introduced in Senate) — To amend the Federal Reserve Act to prohibit the Federal Reserve banks from offering certain products or services dir... · Sec. 4

Sec. 4. Prohibition on the use of central bank digital currency for monetary policy

67 words·~1 min read·/bill/118/s/3801/is/section-4

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Section 16 of the Federal Reserve Act ( 12 U.S.C. 241 et seq. ) is amended by inserting before the twelfth undesignated paragraph the following: The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall not use any central bank digital currency, or any digital asset that is substantially similar under any other name or label, to implement monetary policy. .
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Sec. 4
Prohibition on the use of central bank digital currency for monetary policy
U.S.C.§ 241
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