Bill > HR1430

This bill, known as the No Central Bank Digital Currency (CBDC) Act, aims to prohibit the Federal Reserve and its associated entities from directly issuing, minting, or managing a central bank digital currency (CBDC) for individuals. Specifically, the bill would prevent Federal Reserve banks from creating a digital currency that could be issued directly to individuals or through intermediaries, offering digital currency products or services to individuals, or maintaining individual accounts related to such digital currencies. The legislation would also bar Federal Reserve banks from holding digital currencies minted by the U.S. Government as assets or liabilities on their balance sheets or using such digital currencies to meet their existing financial requirements. A CBDC is a digital form of a country's official currency, issued and regulated by the central bank, which differs from decentralized cryptocurrencies like Bitcoin. The bill appears to be motivated by concerns about potential government oversight or interference in personal financial transactions through a centralized digital currency system.

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https://www.congress.gov/bill/119th-congress/house-bill/1430/all-info