United States CBDC (Prohibited)
Federal Reserve
Status
Architecture
Cross-Border Projects
Project Agorá
Role: participant
Capabilities
Frequently Asked Questions
Does United States have a CBDC?
Yes, United States is developing United States CBDC (Prohibited), currently in none phase.
What is the status of United States's CBDC?
United States CBDC (Prohibited) is in none phase as of 2026-02-18.
When did United States launch its CBDC pilot?
No pilot launch date has been announced yet. The project is currently in none phase.
How many people use United States's CBDC?
User and wallet metrics are not publicly available at this time.
Is United States's CBDC retail or wholesale?
United States CBDC (Prohibited) is a retail CBDC designed for public use in everyday transactions.
Which central bank manages United States CBDC (Prohibited)?
United States CBDC (Prohibited) is managed by Federal Reserve.
Recent Developments
According to the Federal Reserve, retail CBDC development is explicitly prohibited at the federal level as of January 2025 via Executive Order. However, the Fed published its foundational 'Money and Payments' report on January 20, 2022, which defined a CBDC as 'a digital liability of the Federal Reserve that is widely available to the general public.' The report outlined potential benefits including payment efficiency, cross-border improvements, and public access to central bank money as cash usage declined from 40% of transactions in 2012 to 19% by 2020. The Fed stated it would not proceed with CBDC issuance without clear support from the executive branch and Congress, ideally in the form of specific authorizing law. The Fed continues technical research into wholesale CBDC through Project Agorá for cross-border settlements. FedNow, launched as a real-time gross settlement service, represents incremental payment system modernization distinct from CBDC development.
Updated: 2/18/2026