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Analyze HR1430 - No CBDC Act | DoTheySupportIt

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Analyze HR1430 - No CBDC Act

HR1430

No CBDC Act

This bill, titled the "No CBDC Act," aims to amend the Federal Reserve Act to prohibit Federal Reserve banks, the Board, the Secretary of the Treasury, and any related entities from issuing a central bank digital currency (CBDC) directly to individuals. It also restricts these entities from offering CBDC-related products or services directly to individuals or maintaining accounts on their behalf. Additionally, it prevents Federal Reserve banks from holding USG-issued digital currencies on their balance sheets.

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