Prohibits Federal Reserve banks from offering financial products to individuals or holding accounts for them, and bars the Federal Reserve from issuing or using a central bank digital currency.

• Prohibits Federal Reserve banks from offering financial products or services directly to individuals or maintaining accounts on their behalf.
• Prohibits Federal Reserve banks from issuing a central bank digital currency, including directly or through a financial institution or other intermediary.
• Bars the Board of Governors and the Federal Open Market Committee from testing, developing, or using a central bank digital currency to implement monetary policy.
• Exempts any open, permissionless, and private dollar-denominated currency that fully preserves the privacy protections of U.S. coins and physical currency.
• Expresses the sense of Congress that the Board does not have authority to issue a central bank digital currency unless Congress grants it.

• Financial Services Committee (House)

Finance and Financial Sector