Bill > S967

This bill, the No Central Bank Digital Currency Act or the No CBDC Act, amends the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency (CBDC). Specifically, the bill prohibits Federal Reserve banks, the Board, the Secretary of the Treasury, any other agency, or any entity directed to act on their behalf from minting or issuing a CBDC directly to an individual or a digital currency intermediary, offering related products or services directly to an individual, or maintaining an account on behalf of an individual. The bill also prohibits Federal Reserve banks from holding digital currencies minted or issued by the United States Government as assets or liabilities on their balance sheets or using such digital currencies to fulfill the requirements under Section 2A of the Federal Reserve Act.

Housing and Urban Affairs

https://www.congress.gov/bill/118th-congress/senate-bill/967/all-info