Part 5/10:
The Federal Reserve is explicitly barred from offering digital currency products directly to individuals or maintaining accounts on their behalf. This aligns with ongoing concerns about privacy and the potential for government overreach if the central bank were to have direct access to consumer transactions.
- Restrictions on Monetary Policy Implementation:
The legislation explicitly prohibits the use of CBDC as a tool to influence monetary policy—such as adjusting the money supply—by the Federal Reserve or related authorities. This aims to prevent the digital currency from being used to intervene in the economy beyond traditional methods.
- Transparency and Reporting: