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US HB1430
Bill
Status
Introduced
2/18/2025
Primary Sponsor
Andrew Ogles
Click for details
AI Summary
- Prohibits Federal Reserve banks, the Federal Reserve Board, Treasury Secretary, and any other federal agency from minting or issuing a central bank digital currency (CBDC) directly to individuals or through digital currency intermediaries
- Bars federal entities from offering CBDC-related products or services directly to individuals or maintaining accounts on their behalf, including through custodial intermediaries or specially designated accounts at supervised commercial banks
- Prevents Federal Reserve banks from holding any U.S. government-issued digital currencies as assets or liabilities on their balance sheets
- Prohibits use of such digital currencies to fulfill Federal Reserve monetary policy requirements under Section 2A of the Federal Reserve Act
- Amends Section 13 of the Federal Reserve Act (12 U.S.C. 347d) to codify these restrictions
Legislative Description
No CBDC Act No Central Bank Digital Currency Act
Finance and financial sector
Last Action
Referred to the House Committee on Financial Services.
2/18/2025
Committee Referrals
Financial Services2/18/2025
Full Bill Text
No bill text available