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H.R. 1919IntroducedHouseSenate · nowPresidentLawIn the Senate
Sec. 3 · H.R. 1919

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

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Committee version → Passed the House · Sec. 3

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: (19) (A) 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. (B) In this paragraph, the term central bank digital currency has the meaning given that term under section 10(11)(D)..

•HR 1919 EHSEC. 3

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