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

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Section 16 of the Federal Reserve Act ( 12 U.S.C. 411 et seq. ) is amended by adding at the end the following: A Federal reserve bank may not— offer products or services directly to an individual; maintain an account on behalf of an individual; or issue a central bank digital currency, as defined in section 10(11)(D), or any digital asset that is substantially similar under any other name or label. .

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U.S. Code

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

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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

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