12 U.S.C. § 423
Central bank digital currency
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 423, Central bank digital currency, United States, version 1 as recorded 2026-08-14, yourstate.us, https://yourstate.us/provision/1209528
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Full text
In this section:
The term “central bank digital currency” means a digital asset that—
The term “digital asset” has the meaning given the term in section 5901 of this title.
Except as provided in subsection (c), the Board of Governors of the Federal Reserve System or a Federal reserve bank may not issue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency directly or indirectly through a financial institution or other intermediary.
Subsection (b) shall not prohibit any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.
This provisions of this section shall cease to be effective on December 31, 2030.
Nothing in this section shall be construed to allow the Board of Governors of the Federal Reserve System to issue a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency directly or indirectly absent authorization by an Act of Congress.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
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