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Code · BILL · 119th Congress · S. 1318 (EAH) — 119 S1318 EAH: Anti-CBDC Surveillance State Act · Sec. 203

Sec. 203. Prohibition on Federal reserve banks indirectly issuing a central bank digital currency

86 words·~1 min read·/bill/119/s/1318/eah/section-203

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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 paragraph: A Federal reserve bank may not offer a central bank digital currency, 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. In this paragraph, the term central bank digital currency has the meaning given that term under section 10(11)(D). .
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Sec. 203
Prohibition on Federal reserve banks indirectly issuing a central bank digital currency
U.S.C.§ 411
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