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Analyze S1318 - Fallen Servicemembers Religious Heritage Restoration Act | DoTheySupportIt

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Analyze S1318 - Fallen Servicemembers Religious Heritage Restoration Act

S1318

Fallen Servicemembers Religious Heritage Restoration Act

This legislation prohibits the Federal Reserve from directly or indirectly issuing a Central Bank Digital Currency (CBDC) to individuals, maintaining accounts for individuals, or using a CBDC for monetary policy. It also bars the Federal Reserve Board of Governors from testing, developing, or implementing a CBDC without explicit authorization from Congress. Crucially, the bill carves out an exception for open, permissionless, and private dollar-denominated digital assets, ensuring that private stablecoins and decentralized cryptocurrencies are not restricted by these prohibitions.

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