Sec. 3. Prohibition on Federal reserve banks indirectly issuing a central bank digital currency
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/bill/119/s/1124/is/section-3A 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. ), as amended by section 2, is further amended by adding at the end the following: A Federal reserve bank may not offer 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, indirectly to an individual through a financial institution or other intermediary. .
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Sec. 3
Prohibition on Federal reserve banks indirectly issuing a central bank digital currency
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