Prohibition on Federal reserve banks relating to certain products or services for individuals and prohibition on directly issuing a central bank digital currency

Section 16 of the Federal Reserve Act (12 U.S.C. 411 et seq.) is amended by adding at the end the following: A Federal reserve bank may not— (1) offer products or services directly to an individual; (2) maintain an account on behalf of an individual; or (3) issue 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..