US HB4438

Prohibits the Federal Reserve Board of Governors from issuing a central bank digital currency (CBDC) without explicit Congressional authorization

Prohibits the Secretary of the Treasury from directing the Federal Reserve to issue a CBDC without Congressional authorization

Defines "central bank digital currency" as digital money denominated in the national unit of account that is a direct liability of the Federal Reserve or central bank

Amends the Federal Reserve Act by adding Section 16A and Title 31 of the U.S. Code by adding Section 317 to codify these restrictions

Asserts Congress's constitutional authority under Article I, Section 8 to coin money and regulate its value as the basis for requiring legislative approval before any CBDC issuance