U.S. lawmakers have moved decisively on retail CBDC restrictions. The recent legislation explicitly prohibits the Federal Reserve from issuing a central bank digital currency directly to individuals. The framework goes further—it blocks any indirect issuance pathways through traditional banking institutions as well.

Crucially, the bill also restricts monetary policy transmission through CBDCs. This means the Federal Reserve cannot use a digital currency as a direct policy tool, fundamentally shaping how digital currencies might operate in the American financial system. The legislation represents a clear stance: retail CBDC development in the United States faces significant structural barriers moving forward.