Not adopted
This amendment was never taken up, and the bill finished without it. It was never voted on.
Its path through Congress
- Introduced
- Pending Consideration
- Failed
What this amendment would do
This amendment would change the Federal Reserve Act by adding prohibitions regarding central bank digital currency, which is defined as a form of digital money or monetary value that is denominated in the national unit of account, is a direct liability of the Federal Reserve System, and is widely available to the general public.
The amendment would prevent Federal Reserve banks from offering products or services directly to an individual, maintaining accounts for individuals, or issuing a central bank digital currency or a similar digital asset.
It further prohibits Federal Reserve banks from indirectly offering a central bank digital currency or similar digital asset to an individual through a financial institution or other intermediary.
The Board of Governors of the Federal Reserve System would be prohibited from testing, studying, developing, creating, or implementing a central bank digital currency or similar digital asset.
The Board of Governors and the Federal Open Market Committee would be prohibited from using a central bank digital currency or similar digital asset to implement monetary policy.
The amendment includes an exception stating these prohibitions do not apply to any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.
- 5/22/2025
- Senate amendment submitted
This bill has no cosponsors