S. 1124, known as the "Anti-CBDC Surveillance State Act", aims to restrict the Federal Reserve from providing certain services directly to individuals. It amends the Federal Reserve Act to prohibit Federal reserve banks from offering digital currencies or similar digital...
Simple Explanation
S. 1124 is a bill that says the Federal Reserve, which helps manage the country's money, should not create or use a special kind of digital money called a "central bank digital currency" for everyday people or to control the economy. It wants to make sure that only Congress can decide if this type of money should ever be allowed.